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 Standard Price or Rate $20.00 per ounce $12.50 per hour S 3.50 per hour Standard Standard Quantity Cost Direct materials Direct labor Variable manufacturing overhead 2.5 ounces 1.4 hours 1.4 hours S50.00 17.50 4.90 $72.40 During November, the following activity was recorded relative to production of Fludex: a. Materials purchased, 12,000 ounces at a cost of $225,000 b. There was no beginning inventory of materials; however, at the end of the month, 2,500 ounces of c. The company employs 35 lab technicians to work on the production of Fludex. During November, they d. Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable e. During November, 3,750 good units of Fludex were produced material remained in ending inventory worked an average of 160 hours at an average rate of $12 per hour. manufacturing overhead costs during November totaled $18,200 3. Compute the variable overhead rate and efficiency variances. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e, zero variance).) Variable overhead rate variance Variable overhead efficiency variance