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 5,200 units of product were as follows: Standard Costs Actual Costs Direct materials 6,800 lb. at $4.80 6,700 lb. at $4.60 Direct labor 1,300 hrs. at $18.20 1,330 hrs. at $18.60 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 1,360 direct labor hrs.: Variable cost, $3.10 $3,990 variable cost Fixed cost, $4.90 $6,664 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 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 $fill in the blank 1 Direct materials quantity variance fill in the blank 3 Total direct materials cost variance $fill in the blank 5 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 $fill in the blank 7 Direct labor time variance fill in the blank 9 Total direct labor cost variance $fill in the blank 11 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 $fill in the blank 13 Fixed factory overhead volume variance fill in the blank 15 Total factory overhead cost variance $fill in the blank 17