Required Information Problem 8-3A (Static) 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 (6 pounds @ $5 per pound) Direct labor (2 hours @ $17 per hour) 34 Overhead (2 hours (@ $18.50 per hour) Standard cost per unit $ 101 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 evel. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 45, 208 Indirect labor 180, 208 Power 45, 898 Maintenance 90, 898 Total variable overhead costs 360, 208 Fixed overhead costs Depreciation-Building 24, 808 Depreciation-Machinery 80, 008 Taxes and insurance 12, 808 Supervisory salaries 79, 898 Total fixed overhead costs 195, 290 Total overhead costs $ 555, 208 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (91, 080 pounds @ $5.10 per pound) $ 464, 190 Direct labor (30,508 hours @ $17.25 per hour) 526, 125 Overhead costs Indirect materials $ 44,250 Indirect labor 177,758 Power 43, 209 Maintenance 96, 209 Depreciation-Building 24, 808 Depreciation-Machinery 75, 808 Taxes and insurance 11, 509 Supervisory salaries 29, 20e 560, 509 Total costs $ 1, 550, 725 Problem 8-3A (Static) Part 1 Required: 1. Prepare flexible overhead budgets for October showing amounts of each variable and fixed cost at the 65%, 75%, and 85% capacity levels.Problem 8-3A (Static) Part 1 Required: 1. Prepare flexible overhead budgets for October showing amounts of each variable and fixed cost at the 65%, 75%, and 85% capacity levels. ANTUAN COMPANY Flexible Overhead Budgets Total Fixed Flexible Budget at Capacity Level of For Month Ended October 31 Variable Amount per Unit Cost 65% 75% 85% Production (in units) Variable overhead costs Fixed overhead costs Total overhead costs