Hi - can I please get help with this problem- thanks!

Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows:

Direct materials 2.50 ounces $19.00 per ounce $47.50 Direct labor 0.70 hours $15.00 per hour 10.50 Variable manufacturing overhead 0.70 hours $ 4 .00 per hour 2 .80 Total standard cost per unit $60.80 Req 1A Req 1B Req 2A Req 2B Req 3 For direct materials, compute the price and quantity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Materials price variance F Materials quantity variance F XFor direct materials, the materials were purchased from a new supplier who is anxious to enter into a longterm purchase contract. Would you recommend that the company sign the contract? For direct labor, compute the rate and efficiency variances. (Indicate the effect of each variance by selecting "F" for favorable "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Labor rate variance Labor efciency variance Req 1A Req 1B Req 2A Req 2B Req 3 In the past, the 21 technicians employed in the production of Fludex consisted of 4 senior technicians and 17 assistants. During November, the company experimented with fewer senior technicians and more assistants in order to reduce labor costs. Would you recommend that the new labor mix be continued? OYes ONOReq 1A Req 1B Req 2A Req 2B Req 3 Compute the variable overhead rate and efficiency variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Variable overhead rate variance Variable overhead efficiency variance