Trico Company set the following standard unit costs for its single product

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Trico Company set the following standard unit costs for its single product. Direct materials (30 lbs. a $4 per b. 120.00 Direct labor (5 hrs. $14 per hr.) 70.00 Factory overhead-variable (5 hrs. $8 per hr 40.00 Factory overhead-fixed (5 hrs. $10 per hr.) 50.00 280.00 Total standard cost The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 60,000 units per quarter. The following flexible budget information is available. Operating Levels 70% 80% 90% Production in units 42,000 48,000 54.000 210,000 240,000 270,000 Standard direct labor hours Budgeted overhead $2,400,000 $2,400,000 $2,400,000 Fixed factory overhead 1,680,000 1,920,000 2,160,000 Variable factory overhead During the current quarter, the company operated at 90% of capacity and produced 54,000 units of product; actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs: 6,480,000 Direct materials 1,620,000 lbs. a $4 per lb.) Direct labor (270,000 hrs. $14 per hr.) 3,780,000 4,860,000 Factory overhead (270,000 hrs. $18 per hr. Total standard cost 15.120.000 Actual costs incurred during the current quarter follow: Direct materials 1,615,000 lbs. a 4.10 per lb.) 6,621,500 Direct labor (265,000 hrs. $13.75 per hr.) 3,643,750 2,350,000 Fixed factory overhead costs Variable factory overhead costs 2,200,000 14,815,250 Total actual costs