Direct Materials, Direct Labor, and Factory Overhead Coat Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct matersals, direct labor, and factory overhead incurred for the manufacture of 74,000 units of product were as follows: Standard Costs Actual Costs Direct materials Direct labor Factory overhead 241,800 lbs at $4.90 18,930 hes, at $16.90 244,200 lbs. at $5.00 18,500 hrs. at $16.70 Rates per direct labor hr. based on 100% of normal capacity of 19,310 direct labor hrs. Variable costs $4.60 Fixed cost, $7.30 Each unit requires 0,25 hour of direct labor $84,250 variable cost $140,963 fixed cost Required: a. Determine the direct materials price varice, direct materials quantity vacant, and total direct materiais com Varano. Enter a favorable variance as a negative number using a minus sign and an unfavorable vanance as a positive number Direct Materials Price Varance Favorable - Direct Materials Quantity Variance Favorable - Total Direct Materials Cost Vacance Favorable - b. Determine the direct laboratoare direct labor time variance and total direct labor cout an Enter a favorable variance negative numberingin nion more ChedM Works vious b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance inter a favorable variance as a negative number using a minus sign and an unfavorable variance as positive number Direct Labor Rate Variance Unfavorable Direct Labor Time Variance Unfavorable Total Direct Labor Cost Variance Unfavorable c. Determine the variable factory overhead controllable variance, fed factory overhead volume vanane, and total factory overhead coat vananen, Enter a favorable vanance as a negative number using a minus sign and an unfavorable vanance as a positive number Vanable factory overhead controllable variance Favorable Fixed factory overhead volume variance Unfavorable Total factory overhead cost vanance Unfavorable