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 unlt for Its product. The standard overhead rate ( $18.50 per direct labor hour) Is based on a predicted actlvity 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. The company Incurred the following actual costs when it operated at 75% of capacity in October. Requlred: 1. Prepare flexible overhead budgets for October showing amounts of each varlable and fixed cost at the 65%,75%, and 85% capacity levels. 2. Compute the direct materlals varlance, Including Its price and quantlty varlances. (Indlcate the effect of each varlance by selecting favorable, unfavorable, or no varlance.) 3. Compute the direct labor varlance, Including Its rate and efficlency varlances. (Inclicate the effect of each varlance by selecting favorable, unfavorable, or no varlance. Round "Rate per hour" answers to two declmal places.) 4. Prepare a detalled overhead varlance report that shows the varlances for Individual items of overhead. (Indlcate the effect of each