any help would be greatly appreciated

m Problem 10-14 (Algo) Basic Variance Analysis [LO10-1, LO10-2, LO10-3] 66 Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using inits an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows. Standard Quantity or Standard Hours Standard Price or Rate Case Direct materials 2.30 ounces $ 20,00 per ounce Direct labor 0. 59 hours 1 14.09 per hour 7.80 Variable manufacturing overhead 0.59 hours 1.70 Total standard cost per unit $ 60. 58 Prim During November the following activity was recorded related to the production of Fludex. a. Materials purchased. 12,500 ounces at a cost of $305.625. b. There was no beginning inventory of materials, however, at the end of the month. 2,800 ounces of material remained in ending Inventory c. The company employs 21 lab technicians to work on the production of Fludex During November. they each worked on average of 150 hours at en average pay rate of $12 00 per hour. d. Variable manufacturing overhead is assigned to Fludes on the basis of direct labor-hours, Variable manufacturing overhead costs during November totaled $4,200. e. During November, the company produced 4 200 wins of Fludox! Required: 1. For direct materials: Compute the price and quantity variances. b. The materials were purchased from a new suppler 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 21 technicians employed in the production of Fludex consisted of 4 sanior 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 now labor in be continued? 3. Compute the variable overhead rate and efficiency variances. Complete this question by entering your answers in the tabs below