Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $4.80 per Ib.) Direct labor (8 hrs. @ $16 per hr.) Factory overhead-variable (8 hrs. @ $9 per hr.) Factory overhead-fixed (8 hrs. @ $12 per hr.) Total standard cost $144.00 128.00 72.00 96.00 $440.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 59.000 units per quarter. The following flexible budget information is available. 80% Operating Levels 70% 90% 41,300 47,200 53,100 330,400 377,600 424,800 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $4,531,200 $4,531,200 $4,531,200 $2,973,600 $3,398,400 $3,823,200 During the current quarter, the company operated at 90% of capacity and produced 53,100 units of product; actual direct labor totaled 420,800 hours. Units produced were assigned the following standard costs. $ 7.646.400 Direct materials (1,593,000 lbs. @ $4.80 per Ib.) Direct labor (424,800 hrs. @ $16 per hr.) Factory overhead (424,800 hrs. @ $21 per hr.) Total standard cost 6,796,800 8,920,800 $23,364,000 Actual costs incurred during the current quarter follow. Direct materials (1,582,000 lbs. @ $5.90 per $ 9,333,800 lb.) Direct labor (420,800 hrs. @ $12.50 per hr.) 5,260,000 Fixed factory overhead costs 4,297,600 Variable factory overhead costs 4,023,200 Total actual costs $22,914,600 Required: 1. Compute the direct materials cost variance, including its price and quantity variances. Actual Cost Standard Cost 2. Compute the direct labor cost variance, including its rate and efficiency variances. Actual Cost Standard Cost 3. Compute the overhead controllable and volume variances. Controllable Variance Actual overhead Budgeted overhead Controllable variance Fixed overhead volume variance Budgeted forced overhead Fixed overhead cost applied Ficed overhead volume variance