Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis

Santiago 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 $70,000$ units of product were as follows:

$\backslash$table$[[,$Standard Costs,Actual Costs$],[$Direct materials,$238,000lbs.$ at $$5\mathrm{.}20$ per lb$.,235,600lbs.$ at $$5\mathrm{.}00$ per lb$.],[$Direct labor,$17,500hrs.$ at $$18\mathrm{.}60$ per hr$.,17,900hrs.$ at $$19\mathrm{.}00$ per hr$.],[,$Rates per direct labor hr$.,$ based on $100\%$ of normal,$],[$Factory overhead,capacity of $18,260$ direct labor hrs$.$:$,$$$81,430$ variable cost$],[,$Variable cost, $$4\mathrm{.}70,$$$135,124$ fixed cost$]]$

Each unit requires $0\mathrm{.}25$ hour of direct labor.