Direct materials (30 lbs. @ $5.10 per Ib.) Direct labor (8 hs. esi5 per hr.) Factory overhead-Variable (8 hrs. @ $6 per hr.) Factory overhead-Fixed (8 hrs. $9 per hr.) Total standard coat $153.00 120.00 48.00 72.00 $393.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 65,000 units per quarter. The following flexible budget information is available. Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead Operating Levels 300 808 909 45,500 52,000 58,500 364.000 416,000 468.000 $3,744,000 $3,744,000 $3,744,000 $2,184,000 $2,496,000 $2,808,000 During the current quarter, the company operated at 90% of capacity and produced 58,500 units of product, actual direct labor totaled 465,000 hours. Units produced were assigned the following standard costs. Direct materials (1,755,000 Ibs @ $5.10 per Ib.) Direct labor (468,000 hrs. $15 per hr.) Factory overhead (468,000 hrs. $15 per hr.) Total standard cost $ 8,950,500 7020,000 7,020,000 $22.990,500 Actual costs incurred during the current quarter follow. Direct materials (1,741,000 Ibs. @ $7.00 per lb.) Direct labor (465,000 hrs $11.50 per hr.) Fixed factory overhead costs Variable factory overhead coats Total actual costa $12,187,000 5,347.500 3,315,800 3,104,200 $ 23,954,500 Check my work Required Information Required: 1. 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. Req3 Reg 1 Reg 2 Controllable Req 4 Volume Variance Variance Compute the direct materials cost variance, including its price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and ne decimal place.) Actual Cost Standart 0 $ 0 $ 0 0 Reg 2 > of 2 Required: 1. 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. $2.13 Complete this question by entering your answers in the tabs below. Req3 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 favorable, unfavorable, and no decimal places) Actual Cost Standart cas 0 5 0 $ . Ann 0 Required information Required: 1. Compute the direct materials cost varlance, 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. 1:34 Complete this question by entering your answers in the tabs below. Reg 3 Reg 1 Req 4 Volume Req 2 Controllable Variance Variance Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and variance.) Controllable Variance Actual overhead ces Budgeted overhead Controllable variance Required: 1. Compute the direct materials cost variance, including its price and quantity variances. 2. Compute the direct labor cost varlance, 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 Reg 1 Req 2 Controllable Reg 4 Volume Variance Variance Compute the volume variances. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no variance.) Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance