Problem 23-5A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 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. @ $6.0 per lb.) Direct labor (2.0 hrs.@ $14.0 per hr.) Overhead (2.0 hrs. @ $18.50 per hr.) 24.00 28.00 3700 Total standard cost $ 89.00 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% level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials Indirect labor Power Repairs and maintenance $ 15,000 75,000 15,000 30,000 otal variable overhead costs $135,000 Fixed overhead costs Depreciation-building Depreciation-machinery Taxes and insurance Supervision 25,000 71,000 19,000 305,000 otal fixed overhead costs 420,000 Total overhead costs $555,000