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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 lbs. @ $5.00 per Ib.) Direct labor (7 hrs. @ $14 per he.) Factory overhead-Variable (7 hrs. $7 per hr.) Factory overhead-Fixed (7 hrs. @ $9 per her) Total standard cost $ 150.00 98.00 49.00 63.00 $360.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 61,000 units per quarter. The following flexible budget information is available. Operating Levels 70x BOX 90% Production in units 42,700 48,800 54,900 Standard direct labor hours 298,900 341,600 384,300 Budgeted overhead Fixed factory overhead $3,074,400 $3,074,400 $3,074,400 Variable factory overhead $2,092,300 $2,391,200 $2,690, 100 Required: m. Compute the direct materials cost variance, including its price and quantity variances 2. Compute the direct labor cost 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. Reg 3 Reg1 Reg 2 Controllable Reg 4 Volume Variance Variance Compute the direct materials cost variance, including its price and quantity variances. (Indicate the effect of ench vorlance by selecting for fave places) Actual Cost Req3 Reg 1 Reg 2 Reg 4 Volume Controllable Variance Variance Compute the direct materials cost variance, including its price and quantity variances. (Indicate the effect of each varlance by selecting for fave places) Actual Cost Reg 2 > ity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit answers to 2 de Standard Coat Reg 2 > Regu Reg 1 Reg 2 Controllable Reg 4 Volume Variance Variance Compute the direct labor cost variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting for favorab! decimal places :) Actual Cost Req3 Reg 1 Reg 2 Controllable Reg 4 Volume Variance Variance Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Controllable Variance Actual overhead Budgeted overhead Controllable variance Reg 1 Req3 Reg 2 Controllable Req 4 Volume Variance Variance Compute the volume variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no varlance.) Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance

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