Antuan Company set the following standard costs for one unit of its product Direct materials (4.0 Ibs. @ $4.00 per Ib.) Direct labor (1.6 hrs. @$10.00 per hr.) Overhead (1.6 hrs. @$18.50 per hr.) Total standard cost $16.00 16.00 29.60 $61.60 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the fa capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% 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 cos $135,000 Fixed overhead costs Depreciation-Building 24,000 Depreciation-Magamery 72,000 Taxes and insurance 17,000 Supervision 196,000 Total fixed verhead costs 309,000 Total head costs $444,000 rred the following actual costs when it operated Direct materials (61,000 Ibs. @ $4.10 per lb.) Direct labor (21,000 hrs. @ $10.10 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision Total costs $ 41,650 $ 250,100 212,100 176,600 17,250 34,500 24,000 97,200 15,300 196,000 602,500 $1,064,700 Compute the direct labor cost variance, including its rate and efficiency variances. AH Actual Hours = SH=Standard Hours AR=Actual Rate SR Standard Rate = Actual Cost AR Standard Cost