17 Part 2 of 4 Abped References Required information Problem 23-3A (Algo) Flexible overhead budget; materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, P4 [The following information applies to the questions displayed below] Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $4.00 per pound) Direct labor (1.8 hours @ $11.00 per hour) overhead (1.8 hours @ $18.50 per hour). standard cost per unit $12.00 19.80 33.30 565.10 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. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Maintenance 30,000 Total variable overhead costs 135,000 Fixed overhead costs Depreciation-Building Depreciation-Hachinery Taxes and insurance Supervisory salaries 24,000 71,000 16,000 253,500 Total fixed overhead costs Total overhead costs 364,500 $ 499,500 The company incurred the following actual costs when it operated at 75% of capacity in October Direct materials (46,000 pounds @ $4.20 per pound) Direct labor (21,000 hours @ $11.40 per hour) Overhead costs Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total costs $193,200 239,400 $ 41,050 176,900 17,250 34,500 24,000 95,850 14,400 253,500 657,450 $1,090,050