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. @$5.00 per Ib.) Direct labor (1.7 hrs. @ $12.00 per br.). Overhead (1.7 hrs. @ $18.50 per hr.) Total standard cost $20.00 20.40 31.45 $71.85 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 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 23,000 Depreciation-Machinery 70,000 Taxes and insurance 17,000 Supervision 226,750 Total fixed overhead costs 336,750 Total overhead costs $471,750 ed The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (61,500 lbs. @ $5.10 per lb.) Direct labor (23,000 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 $ 41,600 $ 313,650 282,900 177,000 17,250 34,500 23,000 94,500 15,300 226,750 629,900 $1,226,450 Required: 1&2. Prepare flexible overhead budgets for October showing the amounts of each variable and fixed cost at the 65%, 75%, and 85% capacity levels and classify all items listed in the fixed budget as variable or fixed. ANTUAN COMPANY Flexible Overhead Budgets For Month Ended October 31 Flexible Budget Variable Amount per Unit Total Fixed Cost 65% of capacity Flexible Budget for 75% of capacity 85% of capacity Sales (in units) Sales (in units) Variable overhead costs ANTUAN COMPANY Flexible Overhead Budgets For Month Ended October 31 Flexible Budget Variable Amount Total Fixed per Unit Cost 65% of capacity 0.00 0 Fixed overhead costs Flexible Budget for 75% of capacity 85% of capacity a 0 0 Total overhead costs. 0 0