Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Eastern Polymers, Inc., processes a base chemical into pla Standard costs and costs for actual direct materials, direct labor, and factory overhead incurred for the manufacture of 7,200 units of product were as follows: Standard Costs Actual Costs 9,400 lbs. at $5.6 Direct materials 9,300 lbs. at $5.4 Direct labor 1,800 hrs. at $18.3 1,840 hrs. at $18.6 Factory overhead Rates per direct labor hr based on 100% of normal capacity of 1,880 direct labor hrs Variable cost, $4.1 $7,310 variable cost Fixed cost, $6.5 $12,220 fixed cost Each unit requires 0.25 hour of direct labor. Required: a. Determine the direct materials price variance direct materials total direct materials cost variance Enter a quantity variance and favorable variance 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