Assignment Score: 66.67% Assignment: 22-3B Email instructor Save Exit Submit Assignment for Grading Questions Problem 22-3 (Algorithmic) Question 1 of 1 Hint(s) Check My Work (5 remaining) L eBook Problem-Solving Strategy Direct Materials, Direct Labor, and Factory overhead Cost Variance Analysis Eastern Polymers, 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 4,800 units of product were as follows: Standard Costs Actual Costs Direct materials 6,700 lbs. at $5.00 6,600 lbs. at $4.80 Direct labor 1,200 hrs. at $17.40 1,230 hrs. at $17.60 Factory overhead Rates per direct labor hr based on 100% of normal capacity of 1,250 direct labor hrs $4,870 variable cost Variable cost, $4.10 Fixed cost, $6.50 $8,125 fixed cost Each unit requires 0.25 hour of direct labor