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 40,000 units of product were as follows:

standard costs actual costs
direct materials 120,000 lb. at $3.20 118,500 lb. at $3.25
direct labor 12,000 hrs. at $24.40 11,700 hrs. at $25.00
factory overhead rates per direct labor hr.,
based on 100% of normal
capacity of 15,000 direct
labor hrs.:
variable cost, $8.00 $91,200 variable cost
fixed cost, $10.00 $150,000 fixed cost
each unit requires 0.3 hour of direct labor.

required:

a. determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

price variance $
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 variance as a negative number using a minus sign and an unfavorable variance as a positive number.

rate variance $
time variance $
total direct labor cost variance $
c. determine the variable factory overhead controllable variance, 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 $