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: Actual Costs Direct materials 257400 lbs. at $5.60 Direct labor Factory overhead Rates per direct labor hr 254,800 s at$5.40 19,500 hrs. at $16.20 19,950 hrs. at $16.40 based on 100% of normal capacity of 20,350 direct labor hrs.i Variable cost, $3.70 71,430 variable cost Fed cos 118,030 fixed cost Each unit requires 0.2S hour of direct labor Required a. Determine the direct materials price variance, direct materials quantity variance, and total Girect 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 Tot al Direct Materials Cost Varlance 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 Direct Labor Rate Variance Direct Labor Time Variance Oheck My Work 2 more Check My Work uses nemaining Previous