Required information[The following information applies to the questions displayed below.]Antuan Company set the following standard costs per unit for its product.Direct materials (3.0 pounds @ $4.00 per pound)Direct labor (1.8 hours @ $12.00 per hour)$ 12.0021.6033.30Overhead (1.8 hours @ $18.50 per hour)Standard cost per unit$ 66.90The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of thefactory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month atthe 75% capacity level.Overhead Budget (75% Capacity)Variable overhead costsIndirect materials$ 15,000Indirect labor75,000Power15,000Maintenance30,000135,000Total variable overhead costsFixed overhead costsDepreciation-Building24,00070,000Depreciation-MachineryTaxes and insurance16,000Supervisory salaries254,500Total fixed overhead costs364,500 Antuan Company set the following standard costs per unit for its product.Direct materials (3.0 pounds @ $4.00 per pound)Direct labor (1.8 hours @ $12.00 per hour)$ 12.0021.6033.30Overhead (1.8 hours @ $18.50 per hour)Standard cost per unit$ 66.90The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory'scapacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacitylevel.Overhead Budget (75% Capacity)Variable overhead costsIndirect materials$ 15,000Indirect labor75,000Power15,000Maintenance30,000135,000Total variable overhead costsFixed overhead costs24,000Depreciation-BuildingDepreciation-MachineryTaxes and insurance70,00016,000Supervisory salaries.254,500Total fixed overhead costs364,500Total overhead costs$ 499,500The company incurred the following actual costs when it operated at 75% of capacity in October.Direct materials (46,000 pounds @ $4.20 per pound)Direct labor (19,000 hours @ $12.10 per hour)$ 193,200229,900Overhead costsIndirect materials.$ 41,700Indirect labor176,600Power17,250Maintenance34,500Depreciation-Building24,00094,500Depreciation-MachineryTaxes and insuranceSupervisory salaries14,400254,500657,450Total costs$ 1,080,550 3. Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each variance by selectingfavorable, unfavorable, or no variance. Round "Rate per hour" answers to two decimal places.)Actual Cost$0$000$Standard Cost

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Uploaded: 2024-03-20T06:33:06.000Z
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Description: Required information[The following information applies to the questions displayed below.]Antuan Company set the following standard costs per unit for its product.Direct materials (3.0 pounds @ $4.00 per pound)Direct labor (1.8 hours @ $12.00 per hou