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 6,800 units of product were as follows:

Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Macklnaw Inc. processes a base chemlcal Into plastic. Standard costs and actual costs for direct materlals, direct labor, and factory overhead Incurred for the manufacture of 6,800 unlts of product were as follow:s Standard Costs Actual Costs 8,800 lb. at $5.40 8,700 Ib, at $5.30 Direct materials Direct labor Factory overhead 1,700 hrs. at $16.60 1,740 hrs. at $17.00 Rates per dlrect labor hr., based on 100% of normal capacity of 1,770 direct labor hrs.: Variable cost, $4.20 $7,070 variable cost Fixed cost, $6.60 $11,682 fixed cost Each unit requires 0.25 hour of direct labor. Required: a. Determine the direct materials price varlance, direct materilals quantity varlance, and total direct materials cost varlance. Enter a favorable varlance as a negative number using a minus slgn and an unfavorable varlance as a positive number Direct materials price variance Direct materlals quantity varlance Total direct materials cost variance