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) Overhead (2 hours $18.50 per hour) Standard cost per unit The standard overhead rate ($18.50 per direct labor houn 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 $ 45,000 180,000 45,000 90.000 $ 30 34 37 $ 101 Indirect labor Power Maintenance Total variable overhead costs Fixed Overhead costs D 360,000 $ 45,000 180,000 45,000 90,000 360,000 uverneag Budget ( 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 24,000 80,000 12,000 79,000 195,000 $ 555,000 The company incurred the following actual costs when it operated at 75% of capacity in October Direct materials (91,000 pounds @ $5.10 per pound) $ 464,100 Direct labor (30,500 hours $17.25 per hour) 526,125 Overhead costs Indirect materials $ 44,250 Indirect labor 177,750 Power 43,000 Maintenance 96,000 Depreciation-Building 24,000 Depreciation-achinery 25,000 Taxes and Insurance 11,500 Supervisory salaries 89,000 560, 500 Total costs $1,550,725 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 Budget at Capacity Level of For Month Ended October 31 Variable Amount Total Fixed Cost per Unit 65% 75% 85% Production (in units) Variable overhead costs $ 0 $ 0$ 05 0 Fixed overhead costs $ 0 $ 0 5 0 0 Total overhead costs