Becton Labs, lnc., 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: During November, the following activity was recorded relative to production of Fludex: a. Materials purchased, 7,500 ounces at a cost of $47,250. b. There was no beginning inventory of materials however, at the end of the month, 2,550 ounces of material remained in ending inventory. c. The company employs 12 lab technicians to work on the production of Fludex. During November, they worked an average of 170 hours at an average rate of $15.50 per hour. d. Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs during November totaled $6,800. e. During November, 2,800 good units of Fludex were produced. 1. For direct materials; a. Compute the price and quantity variances. (Round your price per ounce answers to 2 decimal places. Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and None for no effect (i.e., zero variance).) 2. For direct labor a. Compute the rate and efficiency variances. (Round your rate per hour answers to 2 decimal places. Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and None for no effect (i.e., zero variance).) 3. Compute the variable overhead rate and efficiency variances. (Round your rate per hour answers to 2 decimal places. Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and None for no effect (i.e., zero variance).)