Direct Materials, Direct Labar, and Factory Overhead Cost Variance Analysis Mackinaw Inc. pracesses a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factary averheed incurred far the manufacture of 5,200 units af produc: were as fallows Standard Costs Actual Costs Direct materials Direct labar Factary averh 6,BO0 lb. at $4.60 6,700 lb. at $4.50 1,300 hrs. at $17.0 1,220 hrs. at $17.90 Rabes per direct labor hr., bates: an 100% of normal rapacity of 1,360 dirert labor hrs.: Variable cost, $3.70 $4,760 variabe cast Fixed cost, $5.80 $7,988 ixed cost Each unit requires 0.25 hour of direct labor Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance, Enter a favorable varance as a negative number using a minus sign and an unfavorable variance as a positive number Price variance Quantity variance Total direct materials cost variance b. Determine the direct labor rate varlance, direct labor time varlance, and total direct labor cost va lance. Enter a favorable varlance as a negative number using a minus sign and an unfavorable varlance as a positive number Rate variance Time variance Total direct labor cost variance c. Determine variable factory overhead controllable variance, the fixed factory overhead volume varlance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Variable fectory overhead controllable variance Fixed factory overnead volume variance Total factory overheed cost varie Direct Materials, Direct Labar, and Factory Overhead Cost Variance Analysis Mackinaw Inc. pracesses a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factary averheed incurred far the manufacture of 5,200 units af produc: were as fallows Standard Costs Actual Costs Direct materials Direct labar Factary averh 6,BO0 lb. at $4.60 6,700 lb. at $4.50 1,300 hrs. at $17.0 1,220 hrs. at $17.90 Rabes per direct labor hr., bates: an 100% of normal rapacity of 1,360 dirert labor hrs.: Variable cost, $3.70 $4,760 variabe cast Fixed cost, $5.80 $7,988 ixed cost Each unit requires 0.25 hour of direct labor Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance, Enter a favorable varance as a negative number using a minus sign and an unfavorable variance as a positive number Price variance Quantity variance Total direct materials cost variance b. Determine the direct labor rate varlance, direct labor time varlance, and total direct labor cost va lance. Enter a favorable varlance as a negative number using a minus sign and an unfavorable varlance as a positive number Rate variance Time variance Total direct labor cost variance c. Determine variable factory overhead controllable variance, the fixed factory overhead volume varlance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Variable fectory overhead controllable variance Fixed factory overnead volume variance Total factory overheed cost varie
