Required information [The following information applies to the questions displayed below) Antuon Company set the following standard costs for one unit of its product Direct materials (5. s. 35.00 per ib.) Direct labor (2.0 hes. $10.0 per l.) Overhead (2.a hrs. $18.58 per her.) Total standard cost $25.80 28.00 37.80 The predetermined overhesd rate ($18.50 per direct laborhoun is based on an expected volume of 75% of the factory's capacity of 20,000 units per month. Following sre the company's budgeted overhesd costs per month at the 75% capacity level Overhead Budget (75% Capacity) Variable overtad costs Indirect saterials $ 15,800 Indirect labor 75,80 15.00 Repairs and maintenance Total variable overhead costs $135,00 Fixed overhead costs Depreciation-Building Depreciation Machinery 72,00 Taxes and insurance 18.00 Supervision 306, Total Fixed overhead costs 420,00 Total overhead costs $555, The company incurred the following actual costs when it operates at 75% of capacity in October. $ 387,se 222,200 Direct materials (75,8ce Ibs. $5.18 per 1b.) Direct labor (22,60 hrs. $1e.ia per hr.) Overhead costs materials labor an Repairs and maintenance Depreciation Building Depreciation Machinery Taxes and Insurance Supervision Total costs 176,700 17,258 34,500 97,200 16.00 385, 713,85a $1,322,50 3. Compute the direct materials cost variance, including its price and quantity variances. Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.) Aptual Cost Standard Oost 5 5 01