Macklnaw 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 74,000 units of product were as follows: Standard Costs Actual Costs Direct materials199,800 lbs. at $5.60 Direct labor Factory overhead Rates per direct labor hr 197,800 lbs. at $5.50 18,500 hrs. at $16.30 18,930 hrs. at $16.60 based on 100% of normal capacity of 19,310 direct labor hrs. Variable cost, $3.30 Fixed cost, $5.20 60,440 variable cost $100,412 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 variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Direct Material Price Variance Favorable v Favorable V Favorable V 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 Direct Labor Rate Variance Direct Labor Time Veriance Total Direct Labor Cost Variance c. Determine variable factory overhead controllable variance, the fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variable factory overhead controllable variance Unfavorable v Unfavorable Favorable