Direct Materials, Direct Labor, and Factory Overhead Cost Wariance 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 minufacture of 74,000 units of product were as follows: Aequired a. Determine the direct materials price vanance, direct materials quantity variance, and total direct materials cont variance. Enter a favorable varidnce at a negative number using a minus sign and an unfavorable variance as a positiye number. Each unit requires 0.25 hour of direct labor. Required a. Determine the direct materials price variance, direct materials quantity variance, and total direct materlais cost variance. Enter a foverable varlance as a negative number using a minus sign and an unfavorable variance as a positive number. b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance is a negative number uting a minus sign and an unfavorable variance as a positive number: 6. Determine the variable factory overhead controllable variance, foced factory overhead volame variance, and total factory overhead cost variance. Enter a favorable variance as a negative-number using a minus sign and an untovorable variance as a positive number