Overhead Budget (75% Capacity) Variable overhead costs Indirect materials Indirect labor Power Repairs and maintenance Total variable overhead costs 15,000 75,000 15,000 30,000 $135,000 Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision Total fixed overhead costs 23,000 70,000 18,000 225,750 336,750 $471,750 Total overhead costs The company incurred the following actual costs when it operated at 75% of capacity in October Direct materials (61,000 Ibs. $5.20 per 1b.) Direct labor (22,000 hrs. $11.20 per hr.) Overhead costs 317,200 246,400 Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision 41,300 176,250 17,250 34,500 23,000 94,500 16,200 225,750 628,750 $1,192,350 Total costs Required: 182. 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 per Unit Total Fixed Cost 65% of capacity Flexible Budget for 75% of capacity 85% of capacity Sales (in units) Variable overhead costs Fixed overhead costs Total overhead costs