answer in journal entry way please and for 1. determine if favorable, unfavorable or none.

6.25 8. Two types of tests are performed in the lab-blood tests and smears. During the past month, 1050 blood tests and 3.500 smears were performed in the lab. Small glass plates are used in both types of tests. During the past month, the hospital purchased 17,500 plates at a cost of $58,800 2.500 of these plates were unused at the end of the month no plates were on hand at the beginning of the month c. During the past month, 2,500 hours of labor time were recorded in the lab at a cost of $27625 d. The lab's variable overhead cost last month totaled $20.250. Book Valley View Hospital has never used standard costs. By searching industry literature, however, you have determined the following nationwide averages for hospital labs: Plates: Three plates are required per lab test. These plates cost $3.50 each and are disposed of after the telt is completed Labor: Each blood test should require 0 6 hours to complete, and each smear should require 0.30 hours to complete. The average cost of this lab time is $11.70 per hour. Overhead: Overhead cost is based on direct labor-hours. The average rate for variable overhead is $760 per hour Jo References Required: 1. Compute a materials price variance for the plates purchased last month and a materials quantity variance for the plates used last month 2. For labor cost in the lab: a. Compute a labor rate variance and a labor efficiency variance b. In most hospitals, one-half of the workers in the lab are senior technicians and one-half are assistants. In an effort to reduce costs Valley View Hospital employs only one-fourth senior technicians and three-fourths assistants. Would you recommend that this policy be continued? 3-a. Compute the variable overhead rate and efficiency variances 3-b. Is there any relation between the variable overhead efficiency variance and the labor efficiency variance? Complete this question by entering your answers in the tabs below. Reg 1 Compute a materials price variance for the plates purchased last month and a materials quantity variance for the plates used last month. Indicate the effect of each variance by selecting "F" for favorable, 'U" for unfavorable, and "None' for no effect (ie, zero variance). Input all amounts as possive values.)