Direct materials (4.0 Ibs. @ $6.00 per Ib.) Direct labor (1.9 hrs. @ $11.00 per hr.) Overhead (1.9 hrs. $18.50 per hr.) Total standard cost $24.00 20.90 35.15 $80.05 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 $ 30,000 Indirect labor 75,000 Power 30,000 Repairs and maintenance 45,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 24,000 Depreciation Machinery 71,000 Taxes and insurance 18,000 Supervision 234, 250 Total fixed overhead costs Total overhead costs $180,000 347,250 $527, 250 The company incurred the following actual costs when it operated at 75% of capacity in October. $ 369,050 259,900 Direct materials (60,500 Ibs. @ $6.10 per lb.) Direct labor (23,000 hrs. @ $11.30 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance $ 41,500 176,800 34,500 51,750 Te preuelenreu uveneau Idle (Pio.Ju pei uleci IdUI TIQUI) is Doseu ull all expecteu volunne vi 1970 UI LITE Idciurys 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 $ 30,000 Indirect labor 75,000 Power 30,000 Repairs and maintenance 45,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 24,000 Depreciation-Machinery 71,000 Taxes and insurance 18,000 Supervision 234,250 Total fixed overhead costs Total overhead costs $180,000 347,250 $527,250 The company incurred the following actual costs when it operated at 75% of capacity in October. $ 369,050 259,900 Direct materials (60,500 Ibs. @ $6.10 per lb.) Direct labor (23,000 hrs. @ $11.30 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation Machinery Taxes and insurance Supervision Total costs $ 41,500 176,800 34,500 51,750 24,000 95,850 16,200 234,250 674,850 $1,303,800 X Answer is not complete. Actual Cost Standard Cost X X Standard price Actual quantity 60,500 Actual price 6.10 Actual quantity 60,500 Standard price 4.00 Standard quantity 60,500 $ 4. $ 242,000 369,050 242,000 $ 0 127,050 127,050 Direct materials price variance Direct materials quantity variance Total direct materials variance 0