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Becton Labs. Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distiling process. The company has developed standard costs for one unit of Fludex, as follows: During November, the following activity was recorded related to the production of Fludex: a. Moterials puichased, 11,500 ounces at a cost of $259,325. b. There vas no beginning inventory of materlals: howevet, at the end of the month, 2700 ounces of material remained in ending inventory. c. The company employs 23 lab techniclans to work on the production of Fludex Duting November, they each worked an average of 100 hours at an average pay rate of $1100 per hour d Varlable manufacturing ovethead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs duing November totaled $2,300 e. During November, the company produced 4,300 units of Fludex. Required: 1. For direct materials: a. Compute the price and quantity variances b. The materials were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the company sign the contract? Required: 1. For direct materials: a. Compute the price and quantity varlances. b. The materlals were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the company sign the contract? 2. For direct labor: a. Compute the rate and efficiency variances. b. In the past, the 23 technicians employed in the production of Fludex consisted of 4 senior technicians and 19 assistants. During November, the company experimented with fewer senior techniclans and more assistants in order to reduce labor costs. Would you recommend that the new labor mix be continued? 3. Compute the variable overhead rate and efficiency variances. Complete this question by entering your answers in the tabs below. 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 (1.e., zero varlance). Input all amounts as positive values.) 2. For direct labor: a. Compute the rate and efficiency variances. b. In the past, the 23 technicians employed in the production of Fludex consisted of 4 senior technicians and 19 assistants. Duri November, the company experimented with fewer senior technicians and more assistants in order to reduce labor costs. Would recommend that the new labor mix be continued? 3. Compute the variable overhead rate and efficiency variances: Complete this question by entering your answers in the tabs below. For direct labor, compute the rate and efficiency variances. (Indicate the effect of each variance by selecting "F" for favorable, For direct labor, compute the rate and encich "U" for unfavorable, and "None" for no effect (1.e, zero variance). Input all amounts as positive values.) recommend that the company sign the contract? 2. For direct labor: a. Compute the rate and efficiency variances. b. In the past, the 23 technicians employed in the production of Fludex consisted of 4 senior technicians and 19 assistants. November, the company experimented with fewer senior technicians and more assistants in order to reduce labor costs. recommend that the new labor mix be continued? 3. Compute the variable overhead rate and efficiency variances. Complete this question by entering your answers in the tabs below. Compute the variable overhead rate and efficiency variances. (Indicate the effect of each variance by sefecting " F " for favorable, "U" for unfavorable, and "None" for no effect (i.e, zero variance), Input all amounts as positive values.)