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 78,000 units of product were as follows: Standard Costs Actual Costs 254,800 lbs. at $5.10 19,950 hrs. at $16.70 Direct materials 257,400 lbs. at $5.20 Direct labor 19,500 hrs. at $16.40 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 20,350 direct labor hrs.: Variable cost, $4.40 Fixed cost, $7.00 Each unit requires 0.25 hour of direct labor. $84,940 variable cost $142,450 fixed cost 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 Material Price Variance Direct Materials Quantity Variance Total Direct Materiale net Variana -120 Highlight All Match Case Match Djacritics Whole Words 1 of 3 matches Bi Type here to search e O