3)

Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Santiago Inc, processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, an Factory overhead incurred for the manufacture of 40,000 units of product were as follows: Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost. variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance, Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. c. Determine the variable factory overhead controllable variance, fixed factory overhead volume vaciance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus aign and an unfavorable variance as a positive number