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 7,600 units of product were as follows: Direct materials Direct labor Actual Costs 9,800 lb. at $5.80 1,940 hrs. at $17.10 Factory overhead Standard Costs 9,900 lb. at $6.00 1,900 hrs, at $16.80 Rates per direct labor hr. based on 100% of normal capacity of 1,980 direct labor hrs. Variable cost, $4.70 $8,840 variable cost $14,652 fixed cost Fixed cost, $7.40 Each unit requires 0.25 hour of direct labor. 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 materiais 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 Dinar Book capacity of 1,980 direct labor hrs. Variable cost, $4.70 $8,840 variable cost Fixed cost, $7.40 $14,652 fixed cost Each unit requires 0.25 hour of direct labor. Required: .. Determine the direct materials prior variance, direct materiais 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 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 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. Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance