Return to and overhead variance report LO P1, P2, P3, C2 [The following Information applies to the questions displayed below) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibo. $5.00 per tb.) Direct labor (1.7 hrs. $10.00 per hr.) Overhead (1.7 hrs. $18.50 per hr.) Total standard cost $15.00 17.00 31.45 563.45 The predetermined overhead rate ($18,50 per direct labor hour) is based on an expected volume 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 Dudget (75+ Capacity) Variable overhead costo Indirect materiala $ 15,000 Indirect labor 75.000 Power 15,000 Ropa ir and maintenance 30.000 Total variable overhead coats $135,000 Fixed overhead coat Depreciation Building 23,000 Depreciation Machinery 72,000 Taxes and insurance 10.000 supervision 22.150 Total Fixed overhead costo 235/750 Total overhead costs $491.750 3. Compute the direct materials cost variance, including its price and quantity variances AQ - Actual Quantity SQ - Standard Quantity AP Actual Price SP - Standard Price Answer is not complete. Actual Cost X AP x 22.000 SP $10.00 Standard Cost SP $10.00 30 25.500 X 220.000 220,000 265,000 $ 0 $35.000 0 Direct labor rote variance Direct material price variance Variable overhead offidency variance OOO 35,000 Unfavorable Favorable Favorable