Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (6 pounds @ $5 per pound) Direct labor (2 hours $17 per hour) Overhead (2 hours $18.50 per hour) Standard cost per unit $ 30 34 37 $ 101 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level 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 Indirect labor Power Maintenance $ 45,000 180,000 45,000 90,000 Total variable overhead costs 360,000 Fixed overhead costs Depreciation-Building 24,000 Depreciation-Machinery 80,000 Taxes and insurance 12,000 Supervisory salaries 79,000 195,000 $ 555,000 Total fixed overhead costs Total overhead costs The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (91,000 pounds $5.10 per pound) Direct labor (30,500 hours $17.25 per hour) Overhead costs Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total costs $ 464,100 526,125 $ 44,250 177,750 43,000 96,000 24,000 75,000 11,500 89,000 560,500 $ 1,550,725 3. Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to two decimal places.) Actual Cost Actual hours x Actual rate 30,500 X $ 17.25 $ 526,125 $ 2,554,375 Answer is not complete. Actual hours x Standard rate 30,500 x $ 101.00 $ 3,080,500 $ 2,554,375 2,516,250 S 2,516,250 Standard Cost Standard hours x Standard rate 30,500 $ 18.50 564,250