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 (3.0 Ibs. @ $5.ee per Ib.) Direct labor (1.9 hrs. @ $10.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $15.00 19.00 35.15 $69.15 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,eee Indirect labor 75, eee Power 15,000 Repairs and maintenance 30, eee Total variable overhead costs Fixed overhead costs Depreciation-Building 24, eee Depreciation-Machinery 71, eee Taxes and insurance 17, eee Supervision 280, 250 Total fixed overhead costs Total overhead costs $135,000 392 $ 527,250 The company Incurred the following actual costs when it operated at 75% of capacity in October. $ 239,200 2e4,000 Direct materials (46,000 lbs. @ $5.20 per lb.) Direct labor (20,000 hrs. @ $10.20 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision Total costs $ 41,900 176,350 17,250 34,500 24, eee 95,850 15,300 280,250 685,400 $1,128,600 3. Compute the direct materials cost variance, Including its price and quantity variances. (Indicate the effect of each varlance by 3. Compute the direct materials cost varlance, including its price and quantity variances. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and No varlance.) Actual Cost Standard Cost S 0 S 0 4. Compute the direct labor cost variance, including its rate and efficiency varlances. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and No variance. Round "Rate per hour" answers to two decimal places.) Actual Cost Standard Cost $ 0 5. Prepare a detailed overhead varlance report that shows the variances for Individual items of overhead. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No varlance.) ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume variance Flexible Budget Actual Results Variances Fav./Unfav. Variable costs Fixed costs Total overhead costs