Trico Company set the fol d unit costs for its s Dir $120.00 70.00 40.00 50.00 $

Question

Trico Company set the fol d unit costs for its s Dir $120.00 70.00 40.00 50.00 $280.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 60,000 908 42,000 54, 000 210,000 240,000 270,000 rhead 52, 400,000 52,400,000 $2,400,000 $1,680,000 $1,920,000 $2,160,000 labo tolaled 2600hours, Units produced were assigned the and produced 54000 units of product: actual direct the following standard costs. Direct labor (270,000 hrs $14 per Tbs. 0 54 par Tb.) 6,480, 000 hr.) 3,780,000 4, 860,000 $15,120, 000 cost Actual costs incurred during the current quarter follow ?Prev 6016111 of 6Next

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1. Direct Material Actual Cost Flexible Standard Cost AQ AP Actual Cost AQ SP Flexible Cost SQ SP Standard Cost 1615000 4.1 6621500 1615000 4 6460000 1620000 4 6480000 Price Variance 6621500-6460000 Quantity Variance 6460000-6480000 161500 -20000 Unfavorable Favorable U 161500 Price Variance F -20000 Quantity Variance U 141500 Total Direct Material Variance 2. Direct Labor Actual Cost Flexible Standard Cost AH AR Actual Cost AH SR Flexible Cost SH SR Standard Cost 265000 13.75 3643750 265000 14 3710000 270000 14 3780000 Rate Variance 3643750-3710000 Quantity Variance 3710000-3780000 -66250 -70000 Favorable Favorable F -66250 Price Variance F -70000 Quantity Variance F -136250 Total Direct Material Variance 3. Overhead controllable and volume variance Actual Overhead 2350000+2200000 4550000 Budgeted Overhead 90% utilization 2400000+2160000 4560000 Controllable Variance -10000 Favorable Budgeted Fixed overhead 2400000 Fixed Overhead Applied 2350000 fixed overhead volume variance 50000 Favorable

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