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 70,000 units of product were as follows: Standard Costs Actual Costs Direct materials 182,000 lbs. at $4.90 180,200 lbs. at $4.70 Direct labor 17,500 hrs. at $18.20 17,900 hrs, at $18.50 Factory overhead Rates per direct labor hr based on 100% of normal capacity of 18,260 direct labor hrs. Variable cost $3.90 567.570 variable cost Fixed cost, $6.20 $113,212 xed cost Each unit requires 0.25 hour of direct inbor. Required: a. Determine the direct materials price varianca, direct materials quantity variance, and total direct materials coot varianco. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Direct Material Price Vartance -36,040 Favorable Direct Materials Quantity Variance -793,800 x Favorable Total Direct Materials Cost Vartance -757,760 x Favorable a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Entera favorable variance as a negative number using a minus sign and an unfavorable varance as a positive number Direct Material Price Variance -36,040 Favorable Direct Materials Quantity Variance -793,800 x Favorable Total Direct Materials Cost Variance 3757,760 x Favorable 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 nance, 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 99 positive number Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance