Direct Materials, Direct Labor, and Factory overhead Cost Variance Analysis Road Gripper Tine Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 4,160 tires were as follows: Standard Costs Actual Costs Direct materials 00,000 lbs. at $640 01,000 lbs. at $6.50 Direct labor 2,080 hrs, at$15.75 2,000 hrs at$15A0 Factory overhead Rates per directlabor hr, based on 100% of normal capacity of 2.000 direct labor hrs: Variable cost, $400 $8,200 variable cost Fixed cost $600 $12.000 footed cost Each tire requires 0.5 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, Price variance Quantity variance Total direct materials cost variance