Antaean Company set the following standard costs for one unit of its product. Direct materials 6lbs. @5 dollars per lb. $30 Direct labor 2 hours @ $17 per hour $34 Overhead 2 hours @$18.50 per hour $37 Total standard cost $101 The predetermined overhead rate (18.50 per direct labor hour) is based on an expected volume of 75% of the factory