# Trini Company Standard Costs and Operational Data## Standard Costs per UnitTrini Company established the following standard cost structure for its single product unit:- **Direct Materials**: 30 pounds at $5.00 per pound = **$150.00**- **Direct Labor**: 7 hours at $14 per hour = **$98.00**- **Variable Overhead**: 7 hours at $7 per hour = **$49.00**- **Fixed Overhead**: 7 hours at $9 per hour = **$63.00****Total Standard Cost per Unit: $360.00**## Overhead Application and Additional InformationOverhead is assigned using direct labor hours. The standard overhead rate is based on an expected activity level of 80% capacity, with the company's full capacity at 51,000 units per quarter. The additional operational data is outlined below.### Operating Levels| Capacity Percentage | Production (units) | Standard Direct Labor Hours ( per unit) | Budgeted Overhead (flexible budget) | Fixed Overhead | Variable Overhead ||---------------------|--------------------|----------------------------------------|------------------------------------|-----------------|-------------------|| 70% | 35,700 | 249,900 | $2,570,400 | $1,749,300 | || 80% | 40,800 | 285,600 | $2,570,400 | $1,999,200 | || 90% | 45,900 | 321,300 | $2,570,400 | $2,249,100 | |## Current Quarter OperationsDuring the current quarter, the company operated at 90% capacity, producing 45,900 units. The total direct labor hours amounted to 317,300. The units produced were associated with the standard costs outlined below:- **Direct Materials**: 1,377,000 pounds at $5.00 per pound = **$6,885,000**- **Direct Labor**: 321,300 hours at $14 per hour = **$4,498,200**- **Overhead**: 321,300 hours at $16 per hour = **$5,140,800****Total Standard (Budgeted) Cost: $16,524,000**## Actual **Educational Website Section: Cost Variance Analysis****Objective:**The exercise focuses on computing various cost variances. The requirements are as follows: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.**Instructions:**Complete the question by entering your answers in the designated tabs.**Requirements:**- **Req 1**: Direct Materials Variance- **Req 2**: Direct Labor Variance- **Req 3 Controllable Variance**: Overhead Variance- **Req 3 Volume Variance**: Volume Variance**Note:**Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.**Input Fields:**- **Table Structure**: - **Columns**: Several columns are designated for the actual costs and standard costs, separated by columns for inputting calculations. - **Rows**: - The first set of rows is for Direct Materials with highlighted input areas. - Further rows for additional calculations (e.g., Direct Labor, Overhead).**Navigation:**- Users can navigate between different requirements using the tabs labeled **Req 1, Req 2, Req 3**.- An indicator shows **Page 6 of 6**, suggesting the presence of additional pages for user inputs and calculations.This setup helps users effectively calculate and analyze cost variances in a structured manner, enhancing learning through hands-on interaction with financial data.

Name: # Trini Company Standard Costs and Operational Data## Standard Costs
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: # Trini Company Standard Costs and Operational Data## Standard Costs per UnitTrini Company established the following standard cost structure for its single product unit:- **Direct Materials**: 30 pounds at $5.00 per pound = **$150.00**- **Direct Lab

Direct material variance refers to the concept of determining the gap between the estimated quantity of raw material being used to the actual quantity in relation to the estimated cost of the raw material.1) Computing the direct material variances as follows:Material price variance= (Actual Price- Standard price) * Actual hours = ($7.80 -$5.00) * 1,358,000 pounds = $ 38,02,400 UnfavourableMaterial Quantity variance= (Standard Quantity Purchased - Actual Quantity Purchased) * Standard unit cost = (1,377,000 pounds - 1,358,000 pounds) * $5.00 = $ 95,000 Favourable2) Computing the direct labor variances as follows:Labor price variance= (Standard rate- Actual rate) * Actual hours =($14-$11) * 317,300 hours =$ 951,900 FLabor efficiency variance= (Standard hours- Actual hours) * Standard rate =(321,300 - 317,300 hours) * $14 =$56,000 F3)Computing the Overhead controllable variances as follows: Controllable variancesActual overhead=$2,448,500 + $2,292,300 $ 47,40,800Less: Budgeted overhead=$2,570,400 + $2,249,100 $ 48,19,500Controllable variances$78,700 FFixed overhead volume variancesBudgeted Fixed Overhead $ 48,19,500Fixed overhead cost applied=321,300 * $9 $ 28,91,700Fixed overhead volume variances $19,27,800 URequirement 1Direct material price variance $ 38,02,400UnfavorableDirect material quantity variance $ 95,000FavorableTotal direct material variance $ 37,07,400UnfavorableRequirement 2 Direct Labor Rate variance $ 9,51,900FavorableDirect Labor Efficiency variance $ 56,000FavorableTotal direct labor variance $ 10,07,900FavorableRequirement 3 Controllable variance $ 78,700FavorableFixed overhead volume variance $ 19,27,800Unfavorable