Antuan Company set the following standard costs for one unit of its product Direct materials (6 lbs. @ $5 per Ib.) Direct labor (2 hrs. @ $17 per hr.) Overhead (2 hrs. @ $18.50 per he) Total standard cost $ 30 34 37 $ 101 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 $ 45,888 Indirect labor 180,000 Power 45,000 Repairs and maintenance 90,60e Total variable overhead costs Fixed overhead costs Depreciation-Building 24,000 Depreciation Machinery Be.ee Taxes and insurance 12,000 Supervision 79.000 Total Fixed overhead costs Total overhead costs $360,000 195.000 $555,000 The company Incurred the following actual costs when it operated at 75% of capacity in October $ 464,180 526.125 Direct materials (91.000 55.10 per 1b.) Direct Tabor (36,500 hrs $17.25 per Overheau costs Indirect materials Iridirect labor Powe Repairs and maintenance Depreciation building Depreciation Machinery Taxes and insurance Supervision Totil costs $ 44,230 177,750 43,000 96.090 24,000 95,00 BB 300 51.28 5. Prepare a detailed overhead varlance report that shows the variances for Individual Items of overhead. ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume variance Flexible Budget Actual Results Variances Fav./Unfav. Variable costs Fixed costs Total overhead costs