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 (4.0 pounds @ $5.00 per pound) Direct labor (1.9 hours @ $13.00 per hour) Overhead (1.9 hours @ $18.50 per hour) 2$ 20.00 24.70 35.15 $ Standard cost per unit 79.85 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 $ 15,000 75,000 15,000 30,000 Power Maintenance Total variable overhead 135,000 costs Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance 25,000 70,000 18,000 279, 250 392,250 $ 527, 250 Supervisory salaries 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 (61,000 pounds @ $5.10 per pound) Direct labor (23,000 hours @ $13.20 per hour) Overhead costs $ 311,100 303,600 2$ 41,600 176,200 17,250 34,500 25,000 94,500 16,200 279, 250 Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries 684,500 $ 1,299, 200 Total costs 4. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume Variance Actual Results Flexible Variances Favorable/Unfavorable Budget Variable overhead