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 Actual Costs 208,500 lbs. at $4.50 19,950 hrs. at $17.90 Standard Costs Direct materials 210,600 lbs. at $4,60 Direct labor 19,500 hrs. at $17.50 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 20,350 direct labor hrs. Variable cost, $3.90 Fixed cost, $6.20 Each unit requires 0.25 hour of direct labor. $75,290 variable cost $126,170 fixed cost Required: a. Determine the direct materials price variance, direct materials quantity vanance, and total direct materials cost variance. Enter a favorable variance as a negative number us Direct Material Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance 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 Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance c. Determine variable factory overhead controllable variance, the fixed factory overhead ce, and total factory overhead cost vanance. Enter a favorable Vanable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance 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 Actual Costs 208,500 lbs. at $4.50 19,950 hrs. at $17.90 Standard Costs Direct materials 210,600 lbs. at $4,60 Direct labor 19,500 hrs. at $17.50 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 20,350 direct labor hrs. Variable cost, $3.90 Fixed cost, $6.20 Each unit requires 0.25 hour of direct labor. $75,290 variable cost $126,170 fixed cost Required: a. Determine the direct materials price variance, direct materials quantity vanance, and total direct materials cost variance. Enter a favorable variance as a negative number us Direct Material Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance 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 Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance c. Determine variable factory overhead controllable variance, the fixed factory overhead ce, and total factory overhead cost vanance. Enter a favorable Vanable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance
