Required information (The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. $24.00 Direct materials (4.2 Ibs. @ $6.00 per Ib.) Direct labor (1.7 hrs. $10.00 per hr.) Overhead (1.7 hrs. $18.50 per hr.) Total standard cost 17.00 31.45 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 30,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 24,000 Depreciation-Machinery 72,000 Taxes and insurance 18,000 Supervision 222,750 Total fixed overhead costs Total overhead costs $135,000 236,75e $471,750 The company incurred the following actual costs when it operated at 75% of capacity in October Direct materials (61,000 lbs. $6.10 per lb.) Direct labor (22,000 hrs. $10.40 per hr.) $ 372, 100 228,800 $ 372,100 228,800 Direct materials (61,000 lbs. $6.10 per lb.) Direct labor (22,000 hrs. $18.40 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision Total costs $ 41,450 176,950 17,250 34,500 24,000 97,200 16,200 222,750 630, 300 $1.231.200 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 $ 372,100 228,800 Direct materials (61,000 lbs. $6.10 per lb.) Direct labor (22,000 hrs. $10.40 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision Total costs $ 41,450 176,950 17,250 34,500 24,000 97,200 16, 20e 222,750 630, 300 $1,231,200 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 Standard Cost Direct labor efficiency variance Direct labor rate variance Direct materials price variance Direct materials quantity variance