Becton Labs, Inc. produces various chemical compounds for industrial use one compound, called Fiudex is prepared using an elaborat distilling process The company has developed standard costs for one unit of Fludex, as follows Standard Price Standard Standard Quantity or Rate Cost Direct materials 2.10 ounces $15.00 per ounce $31.50 Direct labor 0 80 hours $15.00 per hour 12.00 Variable manufacturing overhead 0.80 hours $ 3.50 per hour 2.80 $46.30 During November, the following activity was recorded relative to production of Fludex a. Materials purchased, 10,500 ounces at a cost of $143,325 b. There was no beginning inventory of materials; however, at the end of the month, 3,050 ounces of material remained in ending c The company employs 21 lab technicians to work on the production of Fludex. During November, they worked an average of 160 hours at an average rate of $13.50 per hour d Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs durin November totaled $6,800 e During November 3,500 good units of Fludex were produced Required: 1. For direct materials a Compute the price and quantity variances (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable. "U" for untavorable, and "None" for no effect (ie, zero variance).) Materials price variance Materiais quantity variance $ 80.6401F 500.5401