Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $6.00 per Ib.) Direct labor (1.8 hrs. @ $11.00 per hr.) Overhead (1.8 hrs. @ $18.50 per hr.) Total standard cost $24.00 19.80 33.30 $77.10 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capa level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 30,000 Indirect labor 75,000 Power 30,000 Repairs and maintenance 30,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 25,000 Depreciation-Machinery 72,000 Taxes and insurance 18,000 Supervision 219,500 Total fixed overhead costs Total overhead costs $ 165,000 334,500 $499,500 The company incurred the following actual costs when it operated at 75% of capacity in October. $ 375,150 246,400 Direct materials (61,500 Ibs. @ $6.10 per lb.) Direct labor (22,000 hrs. @ $11.20 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision Total costs $ 41,050 176,300 34,500 34,500 25,000 97,200 16,200 219,500 644,250 $1,265,800 3. Compute the direct materials cost variance, including its price and quantity variances. (Indicate the effect of each variance by colectiforfoverable foverable and no orionca) Actual Cost Standard Cost $ 0 $ 0