! Required information Problem 8-3A (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) $15.00 Direct labor (1.7 hours@ $10.00 per hour) Overhead (1.7 hours @ \$18.50 per hour) Standard cost per unit 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. The company incurred the following actual costs when it operated at 75% of capacity in October. 3. Compute the direct materials cost variance, including its price and quantity variances. AQ= Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price 4. Compute the direct labor cost variance, including its rate and efficiency variances. AH= Actual Hours SH= Standard Hours AR= Actual Rate SR= Standard Rate 5. Prepare a detailed overhead variance report that shows the variances for individual items of overhead