Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis \begin{tabular}{lll} & Standard Costs & Actual Costs \\ \hline Direct materials & 9,900lb. at $5.70 & 9,800lb. at $5.50 \\ Direct labor & 1,900 hrs. at $17.00 & 1,940 hrs. at $17.40 \\ Factory overhead & Rates per direct labor hr., \\ & based on 100% of normal \\ & capacity of 1,980 direct & \\ & labor hrs.: \\ Variable cost, $3.50 & $6,580 variable cost \\ Fixed cost, $5.50 & $10,890 fixed cost \end{tabular} Each unit requires 0.25 hour of direct labor. Required: a positive number. Direct materials price variance Direct materials quantity variance Total direct materials cost variance b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Do not round your intermediate calculations and round your final answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. c. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Do not round your intermediate calculations and round your final answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number