Antuan company set the Tomowing standard costs for one unit or its product $24.ee 23.40 Direct materials (4.2 lbs. 56.ee per Ib.) Direct labor (1.8 hrs. $13.00 per hr.) Overhead (1.8 hrs. $18.50 per hr.) Total standard cost $0.70 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 (755 Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,00 Power 25,000 Repairs and maintenance 30.000 Total variable overhead costs Fixed overhead costs Depreciation-Building 24,00 Depreciation Machinery 71.000 Taxes and insurance 17,600 Supervision 252, see Total fixed overhead costs Total overhead costs $135,000 36.6, see 5499, see The company incurred the following actual costs when it operated at 75% of capacity in October. $ 378,200 305,900 Direct materials (61,000 lbs. 56.20 per 10.) Direct labor (23,000 hrs. $13.30 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation Building Depreciation-Machinery Taxes and insurance Supervision Total costs 5 41,250 176,480 17,25e 34, See 24,000 95,850 15,300 252, See 657.ese $1,341,150 5. Prepare a detailed overhead variance 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. Una Variable cost Fixed |Tata