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 Quantity or Hours Standard Price Standard $39.10 7.80 s 2.50 per hour1.50 $48.40 or Rate $17.00 per ounce $13.00 per hour Cost Direct naterials Direct labor Variable manufacturing overhead Total standard cost 2.30 ounces 0.60 hours 0.60 hours per unit During November, the following activity was recorded related to the production of Fludex: a. Materials purchased, 11,500 ounces at a cost of $178,825 b. There was no beginning inventory of materials; however, at the end of the month, 3,150 ounces of material remained in ending C. The company employs 17 lab technicians to work on the production of Fludex. During November, they each worked an average of d. Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs e. During November, the company produced 3,500 units of Fludex. inventory 160 hours at an average pay rate of $11.50 per hour during November totaled $3,000