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. @ $5.00 per Ib.) Direct labor (1.6 hrs. $13.00 per hr.) Overhead (1.6 hrs. $18.50 per hr.) Total standard cost $20.00 20.80 29.60 $70.40 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 (751 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 24,000 Depreciation Machinery 71,000 Taxes and insurance 17,000 Supervision 197,000 Total Fixed overhead costs Total overhead costs $135,000 309,000 $444,000 The company incurred the following actual costs when it operated at 75% of capacity in October Total fixed overhead costs Total overhead costs 309,000 $444,000 The company incurred the following actual costs when it operated at 75% of capacity in October. $ 317,200 279,300 Direct materials (61,000 lbs. @ $5.20 per b.) 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 $ 41,750 176,250 17,250 34,500 24,000 95,850 15,300 197,000 601,900 $1,198,400 5. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. ANTUAN COMPANY KWIKEZE KWIKEZE KWIKEZE KWIKEZE COMPANY COMPANY COMPANY COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume variance 5. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. ANTUAN COMPANY KWIKEZE KWIKEZE KWIKEZE KWIKEZE COMPANY COMPANY COMPANY COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume variance Fav. Budget Results Variances Unfay Variable costs Flexible Actual Variances Unfav. erences . Fixed costs Total Overhead | costs