Mequired 1&2. Prepare flexible overhead budgets for October showing the amounts of each variable and fixed cost at the 65%, 75%, and 85% capacity levels and classify all items listed in the fixed budget as variable or fixed. ANTUAN COMPANY Flexible Overhead Budgets For Month Ended October 31 Flexible Budget Variable Amount Total Fixed 65% of per Unit Cost capacity Flexible Budget for 75% of capacity 85% of capacity Sales (in units) Variable overhead costs Fored overhead costs Total overhead costs 3. Compute the direct materials cost varlance, Including its price and quantity variances. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost 4. 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 Standard Cost 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 Fored COS Total overhead costs TH