Required Information The following information applies to the questions disployed belowJ Trico Company set the following standard unit costs for its single product Direct materials (38 Ibs. $4.88 per Ib $144.88 Direct labor (8 hrs. $16 per hr.) Factory overhead-variable (8 hrs. $9 per hr 128.08 72.88 Factory overhead-fixed (8 hrs. $12 per hr. 96.88 Total standard cost $448.88 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 59,000 units per qusrter. Th e following flexible budget information is a erating Levels 80% 78% 41,380 98% 53,188 Production in units Standard direct labor hours Budgeted overhead 47,280 338,480 377,680 424,88e Fixed factory overhead$4,531,280 $4,531,280 $4,531,280 Variable factory $2,973,680 $3,398,480 $3,823,280 During the current quarter, the company operated at 90% of capacity and produced 53,100 units of product actual direct labor totaled 420,800 hours. Units produced were assigned the following standard costs. Direct materials (1,593,008 Ibs. @ $4.8 per Ib.) Direct labor (424,8 hrs. @ $16 per hr.) Factory overhead (424,88 hrs. @ $21 per hr.) Total standard cost 7,646 , 4ee 6,796,800 8,928,888 $23, 364,800 $ Actual costs incurred during the current quarter follow Direct materials (1,582,888 Ibs. $5.98 per lb Direct labor (429,8 hrs. @ $12.50 per hr.) Fixed factory Variable factory overhead costs Total actual costs $9,333,880 5,268,00 4,297,680 4,823,28 $22,914,680 overhead costs