Budgeted standards for each unit (l) rate and efficiency direct labor S12.50 hour direct labor nearest whole dollar (2 Compute the Tuna Company set following standard unit costs its single for the sio0.00 48.00 Direct materials (2s lbs a s4 per lb) per hr) Direct labor (6 hrs. $8 per hr) $5 hr) (6 hrs. ry (6 hrs, $7 per Factory overhead-fixed LEM SETA 30.00 42.00 24-1A ation of volume 80% of the productive capac. of head variances ned overhead rate is following flexible budget information is available. units per quarter. The a planned operating ity of 60.000 cel 252.000 288.000 324.000 Standard direct labor hours $2.016000 $2.016000 $2.016.000 $1.260.000 440.000 620.000 During the current quarter, the company operated at 70% of capacity and produced 42.000 units of produ actual direct labor totaled 250,000 hours. Units produced were assigned the following standard costs Direct labor 252.000 hrs, a sa per hr)....... 3,024,000 Factory overhead (252,000 hrs $12 per hr.). 9,240,000 Total standard cost Actual costs incurred during the current quarter follow: Direct materials (I,000,000 lbs. $.25) 937,500 Direct labor (250.000 hrs $7750 960,000 Fixed factory overhead costs Variable factory overhead costs 9,347,500 Total actual costs 1. Compute the direct materials cost 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. $16,000 F Refer to information in Problem 24-1A. ad variances Required compute these variances: (a variable overhead spending and efficiency, (b) fixed overhead spending and vol. ume, and (c) total overhead controllable. ired Requ 1. Classi their range An u 2011 Refer