Required information [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $5.00 per Ib.) Direct labor (1.9 hrs. $12.00 per hr.) Overhead (1.9 hrs. $18.50 per hr.) Total standard cost $15.00 22.80 35.15 $72.95 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume 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 (759 Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 30,000 Total variable overhead costs Fixed overhead costs Depreciation Building 23,000 Depreciation Machinery 72,000 Taxes and insurance 17.000 Supervision 280, 250 Total fixed overhead coats Total overhead costs $135,000 nces 392,250 $527,250 The company incurred the following actual costs when it operated at 75% of capacity in October Direct materials (46,000 lbs. $5.20 per $ 239,200 246,000 Direct labor (20,000 hrs. * $12.30 per hr.) verhaal en The company incurred the following actual costs when it operated at 75% of capacity in October. $ 239,200 246,000 Direct materials (46,000 lbs. $5.20 per 1b.) Direct labor (20,000 hrs. $12.30 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation Machinery Taxes and insurance Supervision Total costs $ 41,350 176,900 17,250 34,500 23,000 97,200 15,300 280, 250 685,750 $1,170,950 3. Compute the direct materials cost variance, including its price and quantity variances. Actual Cost Standard Cost