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 (4.0 lbs. $4.00 per tb.) Direct labor (1.8 hrs. $12.00 per hr.) Overhead (1.8 hrs. $18.50 per he.) Total standard cost $16.00 21.60 33.30 $70.90 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 25% Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 30,000 Total variable overhead costs $135,000 Fixed overhead costs Depreciation-Building 24,000 Depreciation Machinery 72,000 Taxes and insurance 16,000 Supervision 252,500 Total fixed overhead costs 364,500 Total overhead costs $499,500 The company incurred the following actual costs when it operated at 75% of capacity in October 5252,150 272,000 Direct materials (61,500 lbs. $4.10 per 16.) Direct labor (22,000 $12.40 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation Building Depreciation Machinery Takes and insurance Supervision Total costs $ 41,050 176,900 17,250 34,500 24,000 97,200 14,400 35,500 65,500 $1,182,750 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