Problem 23-3A (Algo) Flexible overhead budget; 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 per unit for its product. Direct materials (3.0 pounds @ $5.00 per pound) Direct labor (1.7 hours @ $10.00 per hour) Overhead (1.7 hours @ $18.50 per hour) Standard cost per unit $ 15.00 17.00 31.45 $ 63.45 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level 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 Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs $ 15,000 75,000 15,000 30,000 135,000 24,000 70,000 16,000 226,750 336,750 $ 471,750 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (46,500 pounds @ $5.20 per pound) Direct labor (21,000 hours @ $10.20 per hour) Overhead costs Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total costs $ 41,800 176,650 17,250 34,500 24,000 94,500 14,400 226,750 $ 241,800 214,200 629,850 $ 1,085,850