Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. 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. The company incurred the following actual costs when it operated at 75% of capacity in October. Required: 1. Prepare flexible overhead budgets for October showing amounts of each variable and fixed cost at the 65%,75%, and 85% capacity levels. 2. Compute the direct materials variance, including its price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfovorable, or no variance. 3. Compute the direct labor variance, including its rate and efficiency varlances: Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to two decimal places. 4. Prepare a detailed overhead variance report that shows the variances for individual items of overhead N \begin{tabular}{|c|c|c|c|c|} \hline & Flexible Budget & Actual Results & Variances & Favorable or Unfavorable \\ \hline Variable overhead costs & & & & \\ \hline & & & & \\ \hline . & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & C & & \\ \hline & & & & \\ \hline Fixed overhead costs & & & & 18 \\ \hline & & & & \\ \hline C & & & + & \\ \hline & & C & & \\ \hline+2 & & & & P \\ \hline F & - & & & \\ \hline - & & & & \\ \hline Total overhead costs & & & & \\ \hline Volume Variance & y= & & & \\ \hline C & 3 & & 7 & 8x \\ \hline & & & & 3 \\ \hline Volume variance & & W & $ & 7 \\ \hline Total overhead variance & & & & 18 \\ \hline \end{tabular}