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 (4.8 pounds $4.00 per pound) Direct labor (1.7 hours @ $13.00 per hour) Overhead (1-7 hours $18.50 per hour) Standard cost per unit $ 16.00 22.10 31.45 $69.55 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 Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs $ 15,008 75,000 15,000 30,000 135,000 25,000 70,000 17,800 224,750 336,750 $ 471,758 The company incurred the following actual costs when it operated at 75% of capacity in October Direct materials (61,500 pounds @ $4.10 per pound) Direct labor (19,000 hours @$13.30 per hour) Overhead costs Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total costs $ 252,158 252,700 $41,850 176,158 17,250 34,500 25,000 94,500 15,300 224,750 629,300 51,134,150 roblem 8-3A (Algo) Part 1 equired: Prepare flexible overhead budgets for October showing amounts of each variable and fixed cost at the 65%, 75%, and 85% capacity vels.