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 (3.0 pounds @ $4.00 per pound) $ 12.00 Direct labor (1.7 hours e $11.00 per hour) 18.70 Overhead (1.7 hours e $18.50 per hour) 31.45 Standard cost per unit $ 62.15 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. $ 15,000 75,000 15,000 30,000 135,000 Overhead Budget (758 Capacity) Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation-Building Depreciation Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs 25,000 71,000 17,000 223,750 336, 750 $ 471,750 The company incurred the following actual costs when it operated at 75% of capacity in October $ 191, 100 262,200 Direct materials (45,500 pounds e $4.20 per pound) Direct labor (23,000 hours @ $11.40 per hour) Overhead costs Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation Machinery Taxes and insurance Supervisory salaries Total costs $ 42,000 176,550 17,250 34,500 25,000 95,850 15,300 223,750 lo 630,200 $ 1,083,500 2. Compute the direct materials variance, including its price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost 0 $ 0 $ 0 $ 0