Trico Company set the following standard unit costs for its single product. Direct materials (22 lbs. @ $3.90 per lb.) Direct labor (7 hrs. @ $8.00 per hr.) Factory overheadvariable (7 hrs. $5.30 per hr) 37.10 Factory overhead-fixed (7 hrs. $7.10 per hr.) $ 85.80 56.00 49.70 $228.60 Total standard cost The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 67,000 units per quarter. The following flexible budget information is available Operating Levels 70% 46,900 328,300 80% 53,600 375,200 90% Production in units Standard direct labor hours Budgeted overhead 60,300 422,100 Fixed factory overhead Variable factory overhead $2,663,920 $2,663,920 $2,663,920 $ 1,739,990 $1,988,560 $2,237,130 During the current quarter, the company operated at 70% of capacity and produced 46,900 units of product actual direct labor totaled 326,500 hours. Units produced were assigned the following standard costs Direct materials (1,031,800 lbs. @ $3.90 per lb.) Direct labor (328,300 hrs. @ $8.00 per hr.) Factory overhead (328,300 hrs. $12.40 per hr.) $4,024,020 2,626,400 4,070,920 Total standard cost $10,721,340