Solve problem 5 based on the following scenario. Jordan has asked you to develop a flexible overhead budget, based on the data below. Standard Costs for Product per Unit Direct materials (6 pounds, at $6 per pound) 36.00 Direct labor (2 hours, at $20 per hour) 40.00 Overhead (2 hours, at $20.4233333333333 per hour) 40.85 Total standard cost 116.85 The predetermined overhead rate ($20.4233333333333 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month lensa Budgeted Overhead Costs per Month (at 75% capacity) Variable Costs Amount (S) Indirect materials 49,500 Indirect labor 198,000 Power 49,500 Repairs and maintenance 99,000 Total variable overhead costs 396,000 Fixed Overhead Costs Depreciation Building Depreciation - Machinery Taxes and insurance Supervision Total fixed overhead costs Total overhead costs 28,600 88,000 13,200 86,900 216,700 612,700 The company incurred the following actual costs when it operated at 75% of capacity in September. Expenses Direct materials (91,000 pounds, at $6.10 per pound) Direct labor (30,500 hours, at $20.5 per hour) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation --Machinery Taxes and insurance Supervision Total overhead costs Total costs Amount ($) 555,100 625,250 48,675 195,525 47,300 105,600 28,600 82,500 12,650 67,750 588,600 1,768,950 Problem 5. Prepare the overhead variance report, showing the overhead variances for individual items