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 6,400 units of product were as follows: Standard Costs Actual Costs Direct materials 8,300 B. at $5.90 8,200 lb. at $5.70 Direct labor 1,600 hrs. et $17.00 1,640 hrs, at $17.40 Factory overhead Rates per direct labor hr.. based on 100% of normal capacity of 1,670 direct labor hrs. Variable con, $4,00 36,340 variable cost Fixed cost $6.30 $10,521 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 materials costvarjance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number, Direct materials price variance -1,640 Favorable Direct materials quantity variance -590 Favorable Total direct materials cost variance -2,230 Favorable 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 -1,640 Favorable Direct materials quantity variance -590 Favorable Total direct materials cost variance -2,230 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 656 Unfavorable Direct labor time variance 680 Unfavorable Total direct labor cost variance Unfavorable c. Determine variable factory overhead controllabie vartanic, 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 -60 Favorable Fixed factory overhead volume variance Unfavorable Total factory overhead cost variance 129 Unfavorable 189