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 210,600 lbs. at $5.70 208,500 lbs, at $5.60 Direct labor 19,500 hrs. at $18.40 19,950 hrs. at $18.60 Factory overhead Rates per direct labor hr. based on 100% of nommal capacity of 20,350 direct labor hrs.: Variable cost, $3.60 Fixed cost, $5.70 Each unit requires 0.25 hour direct labor. $69,500 variable cost $115,995 fixed cost Required: 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 Materials 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 varlance. 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 the variable factory overhead controllable variance, 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