Trico Company set the following standard unit costs for its single product 153.eg 1 of 2 Direct materials (30 lbs. $5.10 per Ib.) Direct labor (4 hrs. $15 per hr.) Factory overhead variable (4 hrs. @ 56 per hr.) Factory overhead-fixed (4 hrs. Sie per hr.) Total standard cost 24.ee The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 68.000 units per quarter. The following flexible budget information is available. Operating Levels SA 47,600 54.48 190,400 217,600 61,20e 244,800 to 10 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $ 2.176.000 $2176,000 $2,176, 51,142,480 $1,305,680 $1,468, see During the current quarter the company operated at 90% of capacity and produced 61 200 units of product, actual direct labor totaled 238,800 hours. Units produced were assigned the following standard costs Direct materials (1,836.000 To $.le per la Direct labor (244,800 hrs 515 per ho Factory overhead (244,60 hrs. 516 per hr. Total standard cost $9,363,600 3,672,000 3,916,800 $16.952.482 Actual costs incurred during the current quarter follow Direct materials (1,822,000 lbs. $eipe per 16.) Direct labor (235,800 hrs. $22.10 per hr Fixed factory overhead costs Variable factory overhead costs Total actual costs $12.207.488 2.80 480 1942700 1,668,709 $18,70 280 Required: Required: 1. Compute the direct materials cost variance, including its price and quantity variances. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost $ of 0 2. Compute the direct labor cost variance, including its rate and efficiency variances. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost " / of 3. Compute the overhead controllable and volume variances Required information 3. Compute the overhead controllable and volume variances. Controllable Variance Actual overhead Budgeted overhead Controllable variance . Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance ere to search GL LUCUSUS $18,708,280 (a) Compute the variable overhead spending and efficiency variances. (Round "cost per unit" and "rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AVR = Actual Variable Rate SVR = Standard Variable Rate Actual Variable OH Cost Flexible Budget Standard Cost (VOH applied) 0 (b) Compute the fixed overhead spending and volume variances. (Round "cost per unit" and "rate per hour answers to 2 decimal Part 2 of 2 (b) Compute the fixed overhead spending and volume variances. (Round "cost per unit" and "rate per hour" answers to 2 decimal places.) " AH = Actual Hours SH = Standard Hours AFR = Actual Fixed Rate SFR - Standard Fixed Rate points Actual Fixed OH Cost Budgeted Overhead Standard Cost [FOH applied) Print References (c) Compute the total overhead controllable variance. Overhead Controllable Variance Total overhead controllable variance