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Hart Labs, Inc provides mad cow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices are

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Hart Labs, Inc provides mad cow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices are strictly regulated. Therefore. Hart Labs must constantly monitor and control its testing costs. Shown below are the standard costs for a typical test. The lab does not maintain an inventory of test tubes. As a result, the tubes purchased each month are used that month. Actual activity for the month of November 2020 , when 1,400 tests were conducted, resulted in the following: Monthly budgeted fixed overhead is $17,400. Revenues for the month were $93,800, and selling and administrative experses were $4,000 Monthy budgeted fowed owshead is $17,400. Revenues for the month were $93,800, and selling and administrative experees were $4.000. (a) Compute the price and quantity variances for direct moterials and direct labor. eTextbook and Media List of Accounts Latsaved 3 hours ab Attempts: 0 of 3 used Saved work will be auto-submitted on the due das. Autosubmissioncantake up to 10 minutes. (b)

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