Direct Materials. Direct Labor and Factory Overhead Cost Variance Analysis Madonaw 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 70,000 units of product was follows Standard Costs Actual Costs Direct materials 195,000 lbs. 55.20 194,000 lbs at $5.00 Direct labor 17.500 h at $17.00 17,900 hrs. at $18.00 Factory overhead Rats per direct labor hr based on 100% of normal capacity of 15,260 direct bers. Variable cost. 54.00 383.160 valable cost Fixed cost $7.60 $130,776 fixed cost Each unit requires 0.25 bour of recto Required: a. Determine the direct materias prie variants, direct material quantity Varance, and total direct materials cout variance Enter a favorable variance as a negative number slog a mission and fratis variance ove number Da Materials Price variance Favorable Cred Material quantity variance Favorable Total Direct Hotecias Cost Variance Tavorable Required: a. Determine the direct materiale price variance, direct materials quantity variance, and total dire materials cost variance. Enter a favorable variance a negative number using a mission and an unfavorable variance as a positive number Direct Materials Price Variance Favorable Direct Materials Quantity Variance Favorable Total Direct Material Cost Variance Favorable Dumb the direct laborate variante direct labor time variance, and total direct labor con variance. Enter a favorable variance as a negative number using a minusson and an unfavorable variance as a positive number Direct Laboritate variance Unfavorable Direct Libor Time Variance Unfavorabile Total Direct Labor Colt Variance With at all / Determine the variable factory overhead controlle variance, the factory overhead vom Vance, and total factory overhead cost variante. Enter a favorable variancesa negative number using a minus sign and an unfavorable variance as a positive number Variable factory overhead controllable variance Favorable Flved factory overhead volume variance Unfavorable Total factory overhead cost variance Lavagate 4