Required Information Problem 21-3A (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 (4.0 pounds @ $5.00 per pound) Direct labor (1.8 hours @ $11.00 per hour) Overhead (1.8 hours @ $18.50 per hour) Standard cost per unit $ 20.00 19.80 33.30 $ 73.10 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 $ 15,000 75,000 Power 15,000 Maintenance 30,000 Total variable overhead costs 135,000 Fixed overhead costs 23,000 70,000 17,000 254,500 364,500 $ 499,500 Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs The company Incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (61,500 pounds @ $5.20 per pound) Direct labor (22,000 hours @ $11.20 per hour) Overhead costs Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total costs $ 41,150 176,100 17,250 34,500 23,000 94,500 15,300 254,500 $ 319,800 246,400 656,300 $ 1,222,500