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. @ $15.00 Direct labor (1.7 hrs. $11.00 18.70 per hr.) Overhead (1.7 hrs. @ $18.50 per 31.45 hr.) Total standard cost $65.15 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 $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 30,000 Total variable overhead costs $135,000 Fixed overhead costs Depreciation- Building 25,000 Depreciation- Machinery 71,000 Taxes and insurance 16,000 Supervision 224,750 Total fixed overhead costs 336, 750 Total overhead costs $471, 750 The company incurred the following actual costs when it operated at 75% of capacity in October $ 234,600 248,600 Direct materials (46,000 lbs. @ $5.10 per lb.) Direct labor (22,000 hrs. @ $11.30 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, 150 17,250 34,500 25,000 95,850 14,400 224,750 629,650 $1,112,850 5. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.) ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume variance Flexible Actual Variances Budget Results Variable costs Fav./ Unfav. Fixed costs Total overhead costs