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 (4.0 Ibs. @ $6.00 per Ib.) Direct labor (1.9 hrs. @ $13.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $24.00 24.70 35.15 $83.85 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume 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 $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 45,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 24,000 Depreciation Machinery 71,000 Taxes and insurance 17,000 Supervision 265, 250 Total fixed overhead costs Total overhead costs $150,000 377,250 $527,250 The company incurred the following actual costs when it operated at 75% of capacity in October. $ 378, 200 279,300 Direct materials (61,000 Ibs. @ $6.20 per lb.) Direct labor (21,000 hrs. @ $13.30 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation Machinery Taxes and insurance Supervision Total costs $ 41,050 176,600 17,250 51,750 24,000 95,850 15,300 265,250 687,050 $1,344,550 4. Compute the direct labor cost variance, including its rate and efficiency variances. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost $ 0