7 part 3 Trini Company set the following standard costs per unit for its single productDirect materials (30 pounds@ $5.50 per pound).Direct labor (7 hours @ $14 per hour)Variable overhead (7 hours @ $6 per hour)Fixed overhead (7 hours @ $12 per hour)Standard cost per unitOverhead 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 62,000 units per quarter. The following additional information is available.Operating Levels80%49,600347, 200Production (in units)Standard direct labor hours (7 DLH/unit)Budgeted overhead (flexible budget)Fixed overheadVariable overheadDirect materials (1,674, 000 pounds @ $5.50 per pound)Direct labor (390, 600 hours @ $14 per hour)Overhead (390, 600 hours@ $18 per hour)Standard (budgeted) costActual costs incurred during the current quarter follow.Direct materials (1,658, 000 pounds @ $7.60 per pound)Direct labor (386,600 hours @ $12.00 per hour)Fixed overheadVariable overheadActual cost$ 165.0098.0042.0084.00$ 389.0070%43,400303,800During the current quarter, the company operated at 90% of capacity and produced 55,800 units; actual direct labortotaled 386,600 hours. Units produced were assigned the following standard costs.Req 2$ 4, 166, 400$ 1,822, 800Complete this question by entering your answers in the tabs below.Req 3ControllableVarianceControllable VarianceActual total overheadBudgeted total overheadControllable varianceRequired: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.Req 3 VolumeVariance$ 4,166,400$ 2,083, 200$ 9,207,0005,468, 4007,030, 800$ 21, 706, 200$ 12, 600, 8004,639, 2003,321, 4003,109, 400$ 23,670, 80090%55,800390, 600Req 1Compute the overhead controllable variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or novariance.)$ 4,166,400$ 2,343, 600

Name: 7 part 3 Trini Company set the following standard costs per unit for i
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Description: 7 part 3 Trini Company set the following standard costs per unit for its single productDirect materials (30 pounds@ $5.50 per pound).Direct labor (7 hours @ $14 per hour)Variable overhead (7 hours @ $6 per hour)Fixed overhead (7 hours @ $12 per hour)

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Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.50 per pound) Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours@ $6 per hour) Fixed overhead (7 hours @ $12 per hour) Standard cost per unit 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 62,000 units per quarter. The following additional information is available. Operating Levels Production (in units) Standard direct labor hours (7 DLH/unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead Direct materials (1,674, 000 pounds@ $5.50 per pound) Direct labor (390, 600 hours @ $14 per hour) Overhead (390, 600 hours @ $18 per hour) Standard (budgeted) cost Actual costs incurred during the current quarter follow. Direct materials (1,658, 000 pounds @ $7.60 per pound) Direct labor (386,600 hours @ $12.00 per hour) Fixed overhead Variable overhead Actual cost Req 1 $ 165.00 98.00 42.00 84.00 $ 389.00 70% 43,400 303, 800 During the current quarter, the company operated at 90% of capacity and produced 55,800 units; actual direct labor totaled 386,600 hours. Units produced were assigned the following standard costs. Complete this question by entering your answers in the tabs below. Req 3 Controllable Variance Controllable Variance Actual total overhead Budgeted total overhead Controllable variance $ 4,166, 400 $ 4,166,400 $ 1,822, 800 $ 2,083, 200 Required: 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. Req 3 Volume Variance 80% 49,600 347, 200 $ 9,207,000 5,468, 400 7,030, 800 $ 21, 706, 200 $ 12, 600, 800 4,639, 200 3,321, 400 3,109, 400 $ 23,670, 800 90% 55, 800 390, 600 Req 2 Compute the overhead controllable variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) $ 4,166, 400 $ 2,343, 600