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 mat follows: Standard Costs Actual Costs Direct materials 207,200 lbs. at $5.40 205,100 lbs. at $5.20 Direct labor 18,500 hrs. at $18.00 18,930 hrs. at $18.30 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 19,310 direct labor hrs.: Variable cost, $4.00 $73,260 variable cost Fixed cost, $6.30 $121,653 fixed cost Each unit requires 0.25 hour of direct labor Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materi 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.valiarce, and total direct labor cost variance. En a positive number. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance Chock My Worl