Required information The following information applies to the questions displayed below Antuan Company set the following standard costs for one unit of its product $ 30 Direct materials (6 Ibs. $5 per Ib.) Direct labor (2 hrs. $17 per hr.) Overhead (2 hrs. $18.50 per hr.) 34 37 Total standard cost $101 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 (75 Capacity) Variable overhead costs $45,000 Indirect materials Indirect labor 180,000 45,000 Power Repairs and maintenance 90,000 Total variable overhead costs $360,000 Fixed overhead costs Depreciation-Building Depreciation-Machinery 24,000 80,000 Taxes and insurance 12,000 Supervision 79,000 Total fixed overhead costs 195,000 $555,000 Total overhead costs The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (91,000 Ibs. $5.10 per 464,100 lb.) Direct labor (30,500 hrs. e $17.25 per hr.) 526,125 overhead costs Indirect materials 44,250 Indirect labor 177,750 43,000 Power Repairs and maintenance Depreciation-Building Depreciation-Machinery 96,000 24,000 75,000 Taxes and insurance 11,500 Supervision 89,000 560,500 $1,550,725 Total costs 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 Actual Cost Standard Cost 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 Actual Cost Standard Cost 5. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume variance Actual Results Flexible Budget Variances Fav,/Unfav, Variable costs Fixed costs Total overhead costs