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 4,800 units of product were as follows: Standard Costs Actual Costs Direct materials 6,200 lb. at $5.10 Direct labor Factory overheadRates per direct labor hr, 6,100 lb. at $5.00 1,200 hrs. at $18.70 1,230 hrs. at $19.00 based on 100% of normal capacity of 1,250 direct labor hrs.: Variable cost, $3.00 $3,560 variable cost Fixed cost, $4.70 $5,875 fixed cost Each unit requires 0.25 hour of direct labor. Required: a. Determine the direct materials price quantity 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 variance, direct materials quantity variance, and total direct materials cost variance Required a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a 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 b. Determine the direct labor 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 favorable varian rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative ry 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