#21 3 Required information [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Part 2 of 4 8 points Direct materials (3.0 Ibs. @ $5.00 per Ib.) $15.00 Direct labor (1.6 hrs. $12.00 per hr.) 19.20 Overhead (1.6 hrs. @ $18.50 per 29.60 hr.) Total standard cost $63.80 8 02:08:57 Skipped 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 Budget (75% Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 30,000 Total variable overhead costs $135,000 Fixed overhead costs Depreciation- Building 23,000 Depreciation- Machinery 71,000 Taxes and insurance 17,000 Supervision 198,000 Total fixed overhead costs 309,000 Total overhead costs $444,000 The company incurred the following actual costs when it operated at 75% of capacity in October. 234,600 233,700 Direct materials (46,000 Ibs. @ $5.10 per lb.) Direct labor (19,000 hrs. @ $12.30 per hr.) Overhead costs Indirect materials $ 41,750 Indirect labor 176, 250 Power 17,250 Repairs and maintenance 34,500 Depreciation-Building 23,000 Depreciation Machinery 95,850 Taxes and insurance 15,300 Supervision 198,000 Total costs 601,900 $1,070,200 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 Actual Cost Standard Cost 0 $ 0 $ 0 $ 0 0