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: Actual Costs 193,100 lbs. at $5.70 19,950 hrs. at $18.40 Standard Costs Direct materials 195,000 lbs. at $5.80 Direct labor 19,500 hrs. at $18.10 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 20,350 direct labor hrs.: Variable cost, $4.30 Fixed cost, $6.80 Each unit requires 0.25 hour of direct labor. $83,010 variable cost $138,380 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. u Direct Material 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 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 S Total Direct Labor Cost Variance C. Determine variable factory overhead controllable variance, the 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. a Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance $