[10 marks] Canalt Health Laboratories performs testing of nutritional elements and toxic metals to professional health practitioners. Because the prices in the industry are strictly regulated, the costs incurred must be carefully monitored and controlled. Below are the standard costs for a typical test. Direct materials (1 petrie dish @ $2 per dish) $2.00 Direct labour (0.5 hours @ $20 per hour) 10.00 Variable overhead (0.5 hours @ $8 per hour) 4.00 Fixed overhead (0.5 hours @ $4 per hour) 2.00 Total standard cost per test $18.00 The lab does not maintain an inventory of petrie dishes. Therefore, the dishes purchased each month are used that month. Actual activity for the month of October 2019, when 2,500 tests were conducted, resulted in the following. Direct materials (2,540 $5,207 dishes) Direct labour (1,240 hours) 26,164 Variable overhead 10,100 Fixed overhead 5,900 Monthly budgeted fixed overhead is $6,000. Revenues for the month were $58,000, and selling and administrative expenses were $2,500. Instructions (a) Compute the price and quantity variances for direct materials and direct labour. (8 marks) Activate Windows (b) Compute the total overhead variance. (2 marks) Go to Settings to activate Window