Required: 1. Prepare flexible overhead budgets for October showing amounts of each variable and fixed cost at the 65%,75%, and 85% capacity levels. Antuan Company set the following standard costs per unit for its product. Direct materials ( 3.0 pounds @$5.00 per pound) Direct labor (1.8 hours@ $12.00 per hour) Overhead ( 1.8 hours @ $18.50 per hour) standard cost per unit 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. Overhead Budget (75\% Capacity) Variable overhead costs Indirect materials Indirect labor $30,00075,00030,00030,000165,000 Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs The company incurred the following actual costs when it operated at 75% of capacity in October. 2. Compute the direct materials variance, including its price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. 3. Compute the direct labor variance, including its rate and efficiency variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to two decimal places. 4. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance