Direct Matartals, Direct Labor, and Factory Overhead Cast Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard casts and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 78,000 units of product w Standard Costs Actual Costs Dit materials 240,000 lbs. at $5.50 247,100 s at 15.40 Direct labor Factory overhead 19,500 hrs. at $18.30 19,950 hrs at $18.00 Rates per direct labor based on 100% of normal capacity of 20,350 labor tes Verable cost $4.10 $79,150 variable cost Fixed cost $0.50 8132,275 fed cost Each unit requires 0.25 hour of direct labos Required: a. Determine the direct materials price vals, direct materiality vartalor, and total direct materials cost varance, Ester a favorable variance as a negative number sing a mines sige and an unfaverable variance as a positive nu Deect Materials Price variance Direct Materials Quantity Vartance Total Direct Materials Cast Variance davorable b. Determine the direct labor rate variance, direct labor te vans, and total dect labor cost variance. Deter a favorate variance as Direct Labor Rate Variance Direct Labor Time variance Total Direct Labor Cost Variance sige and a favorable variance al a pestive mursber c. Determine the variable factory overhead conullable satance, fixed factory overhead volume, and total factory overhead cont variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable varianc as a positive number Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance