The company incurred the following actuat costs when it operated at 75% of capacity in October. Problem 21-3A (Algo) Part 1 3. Compute the ditect labor variance, including its tate and efficiency variances. Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to two decimal places.) Required: 1. Prepare flexible overhead budgets for October showing amounts of each varlable and fixed cost at the 65%,75%, and 85% capacity kevels. Required information Problem 21-3A (Algo) Flexible overhead budget; materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, P4 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. (1) Required information \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ For Month Ended October 31} \\ \hline \multicolumn{5}{|c|}{ Expected production volume } \\ \hline \multicolumn{5}{|l|}{ Production level achieved } \\ \hline \multicolumn{5}{|l|}{ Volume Variance } \\ \hline & Flexible Budget & Actual Results & Variances & Favorable/Unfavorable \\ \hline \multicolumn{5}{|l|}{ Variable overhead costs } \\ \hline \multirow{2}{*}{\multicolumn{5}{|c|}{5}} \\ \hline & & & & \\ \hline \\ \hline \multirow{2}{*}{\multicolumn{5}{|c|}{\begin{tabular}{|l|l|l} \\ \end{tabular}}} \\ \hline & & & & \\ \hline & & & & \\ \hline \multicolumn{5}{|l|}{ Fixed overhead costs } \\ \hline \\ \hline \\ \hline & & & & \\ \hline \\ \hline & & 7 & & \\ \hline \\ \hline \multicolumn{5}{|l|}{ Total overhead costs } \\ \hline \multicolumn{5}{|l|}{ Volume Variance } \\ \hline \\ \hline \\ \hline \multicolumn{5}{|l|}{ Volume variance } \\ \hline Total overhead variance & & & & \\ \hline \end{tabular} 2. Compute the direct materiais variance, including its price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)