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Chapter 22 Performance Evaluation Using Variances from Standard Costs 1069 va. Direct materials price variance, $10,100 PR 22-3B Direct materials, direct labor, and factory overhead cost variance OBJ. 3, analysis Road Gripper Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 4,160 tires were as follows: Actual Costs 101,000 lbs, at $6.50 2,000 hrs, at $1540 Standard Costs Direct materials Direct labor Factory overhead 100000 Ibs at $6.40 2,080 hrs, at $15.75 Rates per direct labor ht, based on 1 00% of normal capacity of 2,000 direct labor hrs Variable cost, $4.00 Fixed cost, $6.00 58,200 variable cost 12,000 fixed cost Each tire requires 0.5 hour of direct labor Determine (a) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (b) the direct labor rate variance, direct labor time vari- ance, and total direct labor cost variance; and (c) the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead oost variance