PR.23.03.ALGO . PR.23.04.ALGO 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 Direct materials Direct labor Factory overhead 8,300 lb. at $4.90 1,600 hrs. at $16.30 Rates per direct labor hr., based on 100% of normal capacity of 1,670 direct labor hrs.: Actual Costs 8,200 lb. at $4.80 1,640 hrs. at $16.50 Variable cost, $4.80 Fixed cost, $7.60 $7,600 variable cost $12,692 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 materials price variance Direct materials quantity variance Total direct materials cost variance 490 X Favorable Favorable $ 1,310 X Favorable 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 Progress: 1/2 items Check My Work 328 Unfavorable Enfavorable Next . PR.23.03.ALGO . PR.23.04.ALGO Variable cost, $4.80 $7,600 variable cost Fixed cost, $7.60 $12,692 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 materials price variance 490 X Favorable Direct materials quantity variance Total direct materials cost variance Favorable 1,310 X Favorable 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 variance Total direct labor cost variance 328 Unfavorable 652 Unfavorable 980 Unfavorable 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 Fixed factory overhead volume variance Total factory overhead cost variance Feedback Check My Work Progress: 1/2 items Check My Work Favorable Unfavorable Unfavorable Next