Calculator Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic, Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 6,800 units of product were as follows: Standard Costs Actual Costs Direct materials 8,800 ib. at $5.60 8,700 lb. at $5.50 Direct labor 1,700 hrs. at $18.20 1,740 hrs. at $18.50 Factory overhead Rates per direct labor hr, based on 100% of normal capacity of 1,770 direct tabor hers: Variable cost, $4.10 $6,900 variable cost Fixed cost, 56.50 $11,505 fixed cost Each unit requires 0.25 hour of direct labor Required: a. Determine the direct materials price variano, direct materials quantity and total direct materials cost Enter a favorable variance as a negative number using minus sign and an unfavorable variance as a positive number Direct materials price variance 10 Direct materials quantity variance Total direct materials cost variance b. Determine the direct labore variance, direct labore ad total direct labor cost anance. Enter a favorable variance as a negative nurber using a minus sign and an unfavorable variance as a positive number Direct loharrate variance Direct lobortime vanance Total direct labor cost variance