[The following information applies to the questions displayed below) Antuan Company set the following standard costs for one unit of its product Direct materials (3.8 lbs. 35.00 per Ib.) $15.00 Direct labor (1.7 hrs. $11.ee per hr.) 18.70 Overhead (1.7 hrs. $18.50 per hr.) 31.45 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 $ 15,888 Indirect labor 75,000 Power 15,000 Repairs and maintenance 30, eee Total variable overhead costs $135,000 Fixed overhead costs Depreciation-Building 23, eee Depreciation-Machinery 70,000 Taxes and insurance 17,000 Supervision 226,750 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. Direct materials (45,588 Ibs. @ $5.20 per lb.) $ 236,600 Direct labor (21,000 hrs. @ $11.2e per hr.) 235,20 Overhead costs Indirect materials $ 41,050 Indirect labor 176, 100 Power 17,250 Repairs and maintenance 34,500 Depreciation-Building 23,000 Depreciation Machinery 94,5ee Taxes and insurance 15,300 Supervision 226,750 628,450 Total costs $1,100,250 3. Compute the direct materials cost variance, including its price and quantity variances. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost 0 $ 0 $ 0 $ 0 0