C) Direct Materials, Direct Labor, and Factory Overhead Cost Valance Analysis Madinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct ma r ec labod factory overed incurred for the a ct of 78.000 product were Standard Costs Actual Costs Direct materials Direct labor 262.500 19,950 . . 55.10 517.10 Factory overhead 265,200 lbs at $5.30 19,500 hrs. $16.80 Rates per direct labore based on 100% of normal capacity of 20,350 direct labor hrs. Variable cost $2.00 Fixed cost $4.60 $55.980 vote $93.610 do Each unit requires 0.25 hour of direct labor sareer Required: .. Determine the direct materials price variance, direct materials Direct Material Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance b. Determine the direct laborate variance, Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance Determine variable factory overhead controlable variance, the feed factory over Variable factory overhead controllable ortance Fixed factory overhead volume variance Total factory overhead cost variance