Use the following information for the Problems below. (The following information applies to the questions displayed below.] Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $5.10 per Ib.) Direct labor (4 hrs. @ $15 per hr.) Factory overhead-variable (4 hrs. @ $6 per hr.) Factory overhead-fixed (4 hrs. @ $11 per hr.) Total standard cost $ 153.00 60.00 24.00 44.00 $281.00 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 70% 80% 90% 47,600 54,400 6 1,200 190,400 217,600 244,800 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $2,393,600 $2,393,600 $2,393,600 $1,142,400 $1,305,600 $1,468,800 During the current quarter, the company operated at 90% of capacity and produced 61,200 units of product; actual direct labor totaled 239,800 hours. Units produced were assigned the following standard costs. 9.363.600 Direct materials (1,836,000 Ibs. @ $5.10 per Ib.) Direct labor (244,800 hrs. @ $15 per hr.) Factory overhead (244,800 hrs. @ $17 per hr.) Total standard cost 3,672,000 4,161,600 $17,197,200 Actual costs incurred during the current quarter follow. Direct materials (1,826,000 Ibs. @ $6.70 per lb.) $12,234, 200 Direct labor (239,800 hrs. @ $12.00 per hr.) 2,877,600 Fixed factory overhead costs 1,942,800 Variable factory overhead costs 1,818,800 Total actual costs $ 18,873,400 Required: 1. Compute the direct materials cost variance, including its price and quantity variances. Actual Cost Standard Cost $ 0 $ 0 of 2. Compute the direct labor cost variance, including its rate and efficiency variances. Actual Cost Standard Cost $ 0 $ 0 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