Trini Company set the following standard costs per unit for its single product. Direct materials (30 pounds @ $4 per pound) Direct labor (5 hours $14 per hour) Variable overhead (5 hours @ $8 per hour) Fixed overhead (5 hours $10 per hour) Standard cost per unit $ 120.00 70.00 40.00 50.00 $ 280.00 Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 60,000 units per quarter. The following additional information is available. Production (in units) Standard direct labor hours (5 DLH/unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead 70% 42,000 units 210,000 hours. $ 2,400,000 $ 1,680,000 Operating Levels 80% 48,000 units 240,000 hours. $ 2,400,000 $ 1,920,000 90% 54,000 units 270,000 hours. $ 2,400,000 $ 2,160,000 During the current quarter, the company operated at 90% of capacity and produced 54,000 units; actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs. Direct materials (1,620,000 pounds @ $4 per pound) Direct labor (270,000 hours @$14 per hour) Overhead (270,000 hours @ $18 per hour) Standard (budgeted) cost Actual costs incurred during the current quarter follow. Direct materials (1,615,000 pounds @ $4.10 per pound) Direct labor (265,000 hours @ $13.75 per hour) Fixed overhead Variable overhead Actual cost $ 6,480,000 3,780,000 4,860,000 $ 15,120,000 $ 6,621,500 3,643,750 2,350,000 2,200,000 $ 14,815,250 Required: 1. Compute the direct materials variance, including its price and quantity variances. 2. Compute the direct labor variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Controllable Variance Req 3 Volume Variance Check my work Compute the direct materials variance, including its price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to two decimal places.) Actual Cost Actual quantity 265,000 X Actual price Actual quantity x Standard price x x $ 0 $ 0 0 S 0 Standard Cost Standard quantity x Standard price x Required: 1. Compute the direct materials variance, including its price and quantity variances. 2. Compute the direct labor variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Controllable Variance Req 3 Volume Variance Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to two decimal places.) Actual Cost $ 0 0 $ 0 Standard Cost Required: 1. Compute the direct materials variance, including its price and quantity variances. 2. Compute the direct labor variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Controllable Variance Req 3 Volume Variance Compute the overhead controllable variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Controllable Variance Actual total overhead Budgeted total overhead Controllable variance Favorable < Req 2 Req 3 Volume Variance > Required: 1. Compute the direct materials variance, including its price and quantity variances. 2. Compute the direct labor variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Controllable Variance Req 3 Volume Variance Compute the overhead volume variances. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Volume variance Budgeted total overhead $ 4,560,000 Standard overhead applied $ 4,860,000 Volume variance $ 300,000 Favorable < Req 3 Controllable Variance Req 3 Volume Variance >