Direct Materials, Direct Labor and Factory Overhead Cost Variance Analysis Madonaw 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 6,000 units of product were as follows: Standard Costs Actual Costs Direct materials 7,800 bat $5.70 7,700 lb. at $5.50 Direct labor 1.500 hrs at $16.40 1,530 hrs at $16.70 Factory overhead Rates per direct labore based on 100% of normal capacity of 1,560 direct Labor Variable cost, $2.00 34.160 vanable cost Fixed cou 4.40 56,864 fed cost Each unit redus hour of direct labor Required . Determine the direct materiale peace, direct material quantity ance, and total direct material contracenter afavorable and negative number wung and underable and sportive number Onect prices on Det mana yang Totalt maten contanance Ouck My War WISU TUSSEN 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 vanance. Enter a favorable variance as a negative number using o minus ugn and an unfavorable vanice as a positive number Direct materials price variance Direct materials quantity variance Total direct materials cost variance b. Determine the direct labor rute variance, direct lobortimeviciance, and total direct labor cost variance. Enter a favorable variance a negative number using a minus sign and anunvor ble variance as a positive number Direct laborate variance Direct labor time var Total direct labor con variance Determine ab actory overed collabte variant, the fied factory overhead Wartacand total factory overhead cost variance Enfer a favorable variances ne numbergassion and an unfavorable vanane poutine number Variable factory overhead controllable variance Factory overhead we Tictory evercostance Check My Work Next