Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis \begin{tabular}{lll} & \multicolumn{1}{c}{ Standard Costs } & \multicolumn{1}{c}{ Actual Costs } \\ \hline Direct materials & 217,000 lbs. at $5.60 & 214,800 lbs. at $5.50 \\ Direct labor & 17,500 hrs. at $16.90 & 17,900 hrs. at $17.30 \\ Factory overhead & Rates per direct labor hr., & \\ & based on 100% of normal & \\ & capacity of 18,260 direct & \\ & labor hrs.: & \\ & Variable cost, $3.60 & $62,370 variable cost \\ & Fixed cost, $5.70 & $104,082 fixed cost \end{tabular} Each unit requires 0.25 hour of direct labor. Required: Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance