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 4,800 units of product were as follows: Standard Costs Actual Costs Direct materials Direct labor Factory overhead 6,200 lb. at $5.90 1,200 hrs. at $16.40 Rates per direct labor hr., based on 100% of normal capacity of 1,250 direct labor hrs.: 6,100 lb. at $5.70 1,230 hrs. at $16.60 Variable cost, $3.00 3,560 variable cost Fixed cost, $4.70 $5,875 fixed 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