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 6.800 lb. at $5.50 6,700 lb. at materials $5.30 Direct labor 1,300 hrs. at $16.10 1,330 hrs. at $16.40 Factory Rates per direct labor overhead hr., based on 100% of normal capacity of 1,360 direct labor hrs. $4,890 variable Variable cost, $3.80 cost $8,160 fixed Fixed cost, $6.00 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 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 and an unfavorable variance as a positive number. $ Direct labor rate variance Direct labor time variance $ Total direct labor cost variance 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 Fixed factory overhead volume variance $ Favorable Total factory overhead cost variance Unfavorable