PR 23-3A Direct materials, direct labor, and factory overhead cost variance analysis Adamantane 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 15,000 units of product were as follows: OBJ. 3,4 Standard Costs Actual Costs 4,950 lbs. at $50.60 2,945 hrs. at $25.60 5,000 lbs. at $50.00 3,000 hrs. at $25.00 Rates per direct labor hr. based on 100% of normal capacity of 3,200 direct labor hrs. Direct materials Direct labor Factory overhead Variable cost, $5.50 Fixed cost, $4.00 $16,680 variable cost 12,800 fixed cost Each unit requires 0.2 hour of direct labor Instructions Determine (a) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (b) the direct labor rate variance, direct labor time vari ance, and total direct labor cost variance; and (c the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance