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Required intormation [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. The standard overhead rate ( $18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. The company incurred the following actual costs when it operated at 75% of capacity in October. I Ile stamuaru uvernead rate (\$10.5U per uirectidnol noui) is baseu on a preuictea dcuvity iever or 15% on the factory's capacity of 20.000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. The company incurred the following actual costs when it operated at 75% of capacity in October. Required: 1. Prepare flexible overhead budgets for October showing amounts of each variable and fixed cost at the 65%,75%, and 85% capacity levels. 2. Compute the direct materials variance. including its price and quantity variances. (Indicate the effect of each voriance by selecting favorable, unfavorable, or no variance.) 4. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)