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 24,000 units of product Direct materials Actual Costs Standard Costs 185,000 lbs. at $5.40 183,200 lbs. at $5.201 Direct labor Factory overhead 18,500 hrs. at $16.40 18,930 hrs. at $16.80 Rates per direct labor hr, based on 100% of normal capacity of 19,310 direct $76,920 variable cost $127,446 fixed cost labor hrs. Variable cost, $4.20 Fixed cost $6.60 Each unit requires 0.25 hour of direct later 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 w 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 variance. Enter a favorable vertence as a negative number using a minus sign and an unferable variance stive Direct Labor Rate Variance Direct Laber Time Variance Tutal Direct Labor Cst Variance Determine the variable factory overhead cantable vertance, fixed factory overhead volume vanance, and total factory overhead cat variance. Enter a favorable verance as a negative number using a mug and Variable factory everhead controllable variance Flaed factory overhead volume variance Tutal factory overhead cost variance