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 (5.0 lbs. @ $5.00 per Ib.) Direct labor (1.9 hrs. 511.0 per hr.) Overhead (1.9 hrs. $18.50 per hr.) Total standard cost $25.00 28.90 35.15 $81.95 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75 level Overhead Budget (25% Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 30,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 25,000 Depreciation Machinery 70,000 Taxes and insurance 16,000 Supervision 281, 250 Total fixed overhead costs Total overhead costs $135,000 392,250 $527,250 The company incurred the following actual costs when it operated at 75% of capacity in October $395,200 214,700 Direct materials (76,000 lbs. $5.20 per lb.) Direct labor (19,000 hrs. $11.30 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation Machinery Taxes and insurance Supervision Total costs $ 41,400 176,850 17,250 34,500 25,000 94,500 14,400 281,250 685 15e $1,295,050 Required: 182. 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 Fot Month Ended October 31 Flexible Budget Flexible Budget for Varlable Amount Total Fixed 65% of 75% of 05% of Cout capacity capacity capacity per Unit Sales in units) Variable overhead costs Fixed overhead costs Total overhead costs 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.) Standard Cust