Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances: and overhead variance report LO P1, P2, P3, P4 [The following information applies to the questions displayed below) Antuan Company set the following standard costs for one unit of its product Direct materials (4.0 lbs.8 54.00 per Ib.) Direct labor (1.8 hrs. 511.00 per hr.) Overhead (1.8 hrs. $18.5e per hr.) Total standard cost $16.00 19.10 $69.10 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 Buget 7x Capacity Variabile overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15.000 Nepairs and maintenance 30.000 Total variable Overhead costs $135,000 Fixed overhead costs Depreciation-Bulding 25,000 Depreciation Machinery 72,000 Taxes and insurance 16,000 Supervision Total Fixed overhead costs 364,500 Total were costs $499,500 The company incurred the following actual costs when it operated at 75% of capacity in October Direct ateriais (61,600 Th..10 per 16.) Direct la 22,00 h. i. per hr.) $ 250,00 248,600 Indirect labor 5.41,100 176,200 17.250 epairs and intenance Deciding Depreciation Machinery 26,000 97,200 14,00 652150 31,155.RS 4. Compute the direct labor cost variance, including its rate and efficiency variances (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance. Round "Rate per hour answers to two decimal places.) Actual Cost Standard Cost pe here to search o E e DIT di 2 PS Home 4.4 $ 4 2 % 5 3 6 7 8