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. Operating Levels 70% 80% 90% Production (in units) 42,000 units 48,000 units 54,000 units Standard direct labor hours (5 DLH/unit) 210,000 hours. 240,000 hours 270,000 hours. Budgeted overhead (flexible budget) Fixed overhead $ 2,400,000 $ 2,400,000 $ 2,400,000 Variable overhead $ 1,680,000 $ 1,920,000 $ 2,160,800 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) $ 6,480,000 Direct labor (270,000 hours @ $14 per hour) 3,780,000 Overhead (270,000 hours @ $18 per hour) 4,860,000 Standard (budgeted) cost $ 15,120,000 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 $ 6,621,500 3,643,750 2,350,000 2,200,000 $ 14,815,250 Variable overhead Actual cost Required: 1. Compute the direct materials variance, including its price and quantity var 2. Compute the direct labor variance, including its rate and efficiency varian 3. Compute the overhead controllable and volume variances. % Answer is complete but not entirely Complete this question by entering your answers in the tabs below. Req3 Req 1 Reg 2 Controllable Req 3 Volume Variance Variance Compute the overhead volume variances. (Indicate the effect of the variance by variance.) Volume variance Budgeted total overhead $ 2,400,000 X Standard overhead applied $ 2,700,000 Volume variance $ 300,000 Favorable