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 78,000 units of product were as follows: Standard Costs Actual Costs Direct materials 195,000 lbs. at $5.10 Direct labor Factory overhead Rates per direct labor hr. 193,100 lbs. at $5.00 19,500 hrs. at $18.70 19,950 hrs. at $19.00 based on 100% of normal capacity of 20,350 direct abor hrs. Variable cost, $3.70 $71,430 variable cost Fixed cost, $5.80 $118,030 fixed cost Each unit requires 0.25 hour of direct labor. 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. Direct Material Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance 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. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance c. Determine variable factory overhead controllable variance, the fixed factory overhead volume variance, 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 factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance -19,310 9,690 -29,000 Favorable Favorable Favorable 5,985 Unfavorable Unfavorable Unfavorable 8,415 V 14,400 -41,670X Favorable 45,880XUnfavorable 117,310 Unfavorable