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. e@ $15 per hr.) Factory overhead-variable (4 hrs. @ $6 per hr.) Factory overhead-fixed (4 hrs. @ $11 per hr.) $153.00 60.00 24.00 44.00 $281.00 Total standard cost 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 80% 54,400 217,600 90% 61,200 244,800 70% Production in units 47,600 190,400 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. 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.) $ 9,363,600 3,672,000 4,161,600 $17,197,200 Total standard cost 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.) Fixed factory overhead costs Variable factory overhead costs 2,877,600 1,942,800 1,818,800 $18,873,400 Total actual costs 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