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Required Information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (4.2 pounds @ $5.00 per pound) $ 20.00 Direct labor (1.8 hours @ $11.00 per hour) 19.80 Overhead (1.8 hours @ $13.50 per hour) 33.30 Standard cost per unit $ 73.10 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. $ 15, eee 75, eee 15, eee 30, eee 135, eee overhead Budget (75% Capacity) Variable overhead costs Indirect materials Indirect labor 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 23,eee 70, eee 16, eee 255,5ee 364,500 $ 499,500 The company Incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (61,000 pounds @ $5.2e per pound) $ 317,200 Direct labor (19,000 hours @ $11.10 per hour) 210,988 Overhead costs Indirect materials $ 41,200 Indirect labor 176,650 Power 17,250 Maintenance 34,500 Depreciation-Building 23,000 Depreciation-Machinery 94,500 Taxes and insurance 14,400 Supervisory salaries 255,500 657,888 Total costs $ 1,185,18 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 Flexible Overhead Budgets Flexible Budget at Capacity Level of Variable Amount Total Fixed Cost 65% 75% 85% For Month Ended October 31 per Unit Production (in units) Variable overhead costs $ 0.00 S 0 S 0 S 0 Fixed overhead costs S 0 S 0 S 0 S 0 Total overhead costs 2. Compute the direct materials variance, including its price and quantity varlances. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no varlance.) Actual Cost Standard Cost $ 0 S 0 S 0 0 3. Compute the direct labor varlance, including its rate and efficiency variances. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no varlance. Round "Rate per hour" answers to two decimal places.) Actual Cost Standard Cost 4. Prepare a detailed overhead varlance report that shows the variances for Individual Items of overhead. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no varlance.) ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume Variance Flexible Budget Actual Results Variances Favorable/Unfavorable Variable overhead costs Fixed overhead costs Total overhead costs Volume Variance S 0 Volume variance Total overhead variance