Question: just need the fixed overhead volume variance. Calculations are much appreciated! Required information [The following information applies to the questions displayed below.) Trico Company set

Required information [The following information applies to the questions displayed below.) Trico Company set the following standard unit costs for its single product Direct materials (38 Ibs. $5.10 per Ib.) Direct labor (8 hrs. @ $14 per hr.) Factory overhead-Variable (8 hrs. @ $6 per hr.) Factory overhead-Fixed (8 hrs. @ $12 per hr.) Total standard cost $153.00 112.00 48.00 96.00 $499.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 66,000 units per quarter. The following flexible budget information is available. Operating Levels 704 80% 999 46,200 52,800 59,400 369,600 422,400 475,200 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $5,068,800 $5,068,800 $5,068, 800 $2,217,600 $2,534,400 $2,851,200 During the current quarter, the company operated at 90% of capacity and produced 59,400 units of product, actual direct labor totaled 369,400 hours. Units produced were assigned the following standard costs. Direct materials (1,782,000 lbs. @ $5.10 per Ib.) Direct labor (475,200 hrs. @ $14 per hr.) Factory overhead (475,200 hrs. @ $18 per hr.) Total standard cost $ 9,088,200 6,652,800 8,553,600 $24,294,600 Actual costs incurred during the current quarter follow. Direct materials (1,387,000 Ibs. @ $6.70 per lb.) Direct labor (369,400 hrs. @ $11.68 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $ 9,292,900 4,285, 040 3, 196,500 3,466,700 $20,241, 140 Direct materials (1,782,000 lbs. @ $5.10 per Ib.) Direct labor (475,200 hrs. @ $14 per hr.) Factory overhead (475,200 hrs. @ $18 per hr.) Total standard cost $ 9,088,200 6,652,800 8,553, 600 $24,294,600 Actual costs incurred during the current quarter follow. Direct materials (1,387,000 lbs. @ $6.70 per lb.) Direct labor (369,400 hrs. @ $11.60 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $ 9, 292,900 4,285,040 3,196,500 3,466,700 $20,241, 140 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 Req 4 Volume Reg 2 Controllable Variance Variance Compute the volume variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance Favorable
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