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 laborar Direct materials Direct labor Factory overhead Actual Costs 262,500 lbs. at $5.10 19,950 hrs. at $17.10 Standard Costs 265,200 lbs. at $5.30 19,500 hrs. at $16.80 Rates per direct labor hr. based on 100% of normal capacity of 20,350 direct labor hrs.: Variable cost, $2.90 Fixed cost, $4.60 $55,980 variable cost $93,610 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. En Direct Material Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable varia Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance c. Determine variable factory overhead controllable variance, the fixed factory overhead volume variance, and total factory overhea Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance pe here to search