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 5,600 units of product were as follows: Standard Costs Actual Costs Direct materials 7,300 lb. at $5.90 7,200 lb. at $5.70 Direct labor 1,400 hrs. at $18.10 1,430 hrs. at $18.40 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 1,460 direct labor hrs.: