Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, call is prepared using an elaborate distilling process. The company has developed standard of Fludex, as follows ed Fludex costs for one unit or Rate $29.00 per ounce $12.00 per hour S 3.50 per hour Cost Direct materials Direct labor Variable manufacturing overhead 2.60 ounces 0.60 hours 0.60 hours $ 75.40 7.20 2.10 $ 84.70 During November, the following activity was recorded relative to production of Fludex a. Materials purchased, 14,000 ounces at a cost of $388,500 e was no beginning inventory of materials: however, at the end of the month, 2,950 ounces of material remained in ending inventory c. The company employs 22 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 manufacturing overhead costs during November totaled $5,500 e During November, 4,200 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 unfavorable, and "None" for no effect (i.e, zero variance).) Materials price variance Type here to search