eBook Calculator 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 6,400 units of product were as follows: Standard Costs Actual Costs Direct materials Direct labor Factory overhead 8,300 lb. at $5.40 1,600 hrs. at $16.20 Rates per direct labor hr, based on 100% of normal capacity of 1,670 direct labor hrs. 8,200 lb. at $5.20 1,640 hrs. at $16.60 Variable cost, $3.20 $5,070 variable cost Fixed cost, $5.10 $8,517 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 varlance. Enter a favorable variance as a ative number using a minus sign and an unfavorable variance as a positive number Price variance Quantity variance Total direct materials cost variance Check My Work 2 more Check My Work uses remaining Previous