10.00 points Problem 10-14 Basic Variance Analysis [LO10-1, LO10-2, LO10-3] Becton Labs, Inc. produces various chemical compounds for industrial use. One compound, called Fludek, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Quantity 2.10 ounces S 50.40 Direct materials S24.00 per ounce S14.00 per hour Direct labor 0.40 hours 5.80 Variable manufacturing overhead 0.40 hours S 2.50 per hour 1.00 S 57.00 During November, the following activity was recorded relative to production of Fludex a. Materials purchased, 11,500 ounces at a cost of S259,325. b. There was no beginning inventory of materials; however, at the end of the month, 2,700 ounces of material remained in ending inventory. c The company employs 23 lab technicians to work on the production of Fludex. During November, they worked an average of 100 hours at an average rate of S11.00 per hour. d. Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs during November totaled S2,300. e. During November, 4.100 good units of Fludex were produced Required: 1. For direct materials a. Compute the price and quantity variances. t all amounts po,itv shlues dicate the effect of each variance by selecting "F" for favorableo"U" for unfavorable,tand None" foi nondows. effect (i.e, zero variance).)