Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 8,000 computers Actual: Variable factory overhead $312,300 Fixed factory overhead 87,750 Standard: 8,000 hrs. at $47 376,000 If productive capacity of 100% was 13,000 hours and the total factory overhead cost budgeted at the level of 8,000 standard hours was $409,750, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $6.75 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Variance Amount Favorable/Unfavorable Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance 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 manufact of 5,600 units of product were as follows: Actual Costs 7,200 lb. at $5.80 1,430 hrs. at $16.60 Standard Costs Direct materials 7,300 16. at $5.90 Direct labor 1,400 hrs. at $16.40 Factory overhead Rates per direct labor hr based on 100% of normal capacity of 1,460 direct latar hrs. Variable cost, $4.40 Fixed cost, $7.00 Each unit requires 0.25 hour of direct labor $6,100 variable cost $10,220 fixed cost 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 b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number