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 labar, and factory overhead incurred for the manufacture of 4,400 units of product were as follows: Standard Costs Actual Costs Direct materials 5,700 lb. at $4.90 5,600 lb. at $4.HO Direct labor 1,100 hrs, at $18.50 1,130 hrs. at $18.70 Factory overhead Rates per direct labor hr besed on 100% of normal capacity of 1,150 direct labar hrs. Variable cost, $3.10 $3,380 variable cost Fixed cost, $4.90 $5,635 fixed cost Each unit requires 0.25 hour of direct labor Required: a. Determine the direct meterials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable varience as a negative number using a minus sign and an unfevorable variance as a positive number. Direct materiels 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 varlance. 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 Tatal direct labor cost variance $ c. Determine variable factory averhead contrallable varlance, the fixed factory overhead volume variance, and total factory overhead cost varlance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variable factory overhead contrallable variance s Fixed factory overhead volume variance Tatal factory overhead cost variance