Problem 23-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 IThe following information applies to the questions displayed below.U Antuan Company set the following standard costs for one unit of its product. Direct materials (5.0 lbs. a $4.00 per lb) 20.00 24.70 Overhead (.9 hrs. $18.50 per hr) 3515 7985 Total standard cost The predetermined overhead rate ($18.50 per direct labor hou) 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 15,000 Indirect materials Indirect labor 75.000 15,000 Power Repairs and maintenance 30,000 135,000 Total variable overhead costs Fixed overhead costs Depreciation-building 24,000 Depreciation machinery 72.000 Taxes and insurance 18,000 278,250 Supervision 392,250 Total fixed overhead costs $527,250 Total overhead costs Problem 23-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 IThe following information applies to the questions displayed below.U Antuan Company set the following standard costs for one unit of its product. Direct materials (5.0 lbs. a $4.00 per lb) 20.00 24.70 Overhead (.9 hrs. $18.50 per hr) 3515 7985 Total standard cost The predetermined overhead rate ($18.50 per direct labor hou) 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 15,000 Indirect materials Indirect labor 75.000 15,000 Power Repairs and maintenance 30,000 135,000 Total variable overhead costs Fixed overhead costs Depreciation-building 24,000 Depreciation machinery 72.000 Taxes and insurance 18,000 278,250 Supervision 392,250 Total fixed overhead costs $527,250 Total overhead costs