Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. $4 per Ib.) Direct labor (5 hrs. $14 per hr.) Factory overhead-variable (5 hrs. $8 per hr.) Factory overhead-fixed (5 hrs. $10 per hr.) Total standard cost $120.00 70.00 40.00 50.00 $280.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 60,000 units per quarter. The following flexible budget information is available Operating Levels 70% 42,000 210,000 90% Production in units Standard direct labor hours Budgeted overhead 80% 48,000 240,000 54,000 270,000 Fixed factory overhead Variable factory overhead $2,400,000 $2,400,000 $2,400,000 $1,680,000 $1,920,000 $2,160,000 During the current quarter, the company operated at 90% of capacity and produced 54,000 units of product, actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs Direct materials (1,620,000 Ibs. e $4 per Ib.)$ 6,480,000 Direct labor (270,000 hrs. $14 per hr. 3,780,000