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Required: 1. For direct materials a. Compute the price and quantity variances b. The materials were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the company sign the contract? 2. For direct labor a. Compute the rate and efficiency variances b. In the past, the 20 technicians employed in the production of Fludex consisted of 7 senior technicians and 13 assistants. During November, the company experimented with fewer senior technicians and more assistants in order to reduce labor costs. Would you recommend that the new labor mix be continued? 3. Compute the variable overhead rate and efficiency variances. Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Req 2A Reg 20 Req3 For direct materials, compute the price and quantity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance), Input all amounts as positive values.) Materials price variance Materials quantity variance s Regia Req 1B > Required: 1. For direct materials: a. Compute the price and quantity variances. b. The materials were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the company sign the contract? 2. For direct labor a. Compute the rate and efficiency variances. b. In the past, the 20 technicians employed in the production of Fludex consisted of 7 senior technicians and 13 assistants. Durin November, the company experimented with fewer senior technicians and more assistants in order to reduce labor costs. Would y recommend that the new labor mix be continued? 3. Compute the variable overhead rate and efficiency variances. Book rint ences Complete this question by entering your answers in the tabs below. Reg 1A Req 10 Regta Reg 28 Reg 3 For direct labor, compute the rate and efficiency variances, (Indicate the effect of each variance by selecting "F* for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance), Input all amounts as positive values.) Labor rate variance Labor efficiency variance Required: 1. For direct materials: a. Compute the price and quantity variances b. The materials were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the company sign the contract? 2. For direct labor a. Compute the rate and efficiency variances. b. In the past, the 20hnicians employed in the production of Fludex consisted of 7 senior technicians and 13 assistants. During November, the company experimented with fewer senior technicians and more assistants in order to reduce labor costs. Would you recommend that the new labor mix be continued? 3. Compute the variable overhead rate and efficiency variances. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req 2A Rey 28 Req 3 In the past, the 20 technicians employed in the production of Fludex consisted of 7 senior technicians and 13 assistants, During November, the company experimented with fewer senior technicians and more assistants in order to reduce labor costs. Would you recommend that the new labor mix be continued? Yes ONO Required: 1. For direct materials: a. Compute the price and quantity variances. b. The materials were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the mpany sign the contract? 2. For direct labor a. Compute the rate and efficiency variances. b. In the past, the 20 technicians employed in the production of Fludex consisted of 7 senior technicians and 13 assistants. During November, the company experimented with fewer senior technicians and more assistants in order to reduce labor costs. Would you recommend that the new labor mix be continued? 3. Compute the variable overhead rate and efficiency variances Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2A Req 28 Reg 3 Compute the variable overhead rate and efficiency variances. (Indicate the effect of each variance by selecting 'F* for favorable, "U" for unfavorable, and "None" for no effect (.e, zero variance). Input all amounts as positive values.) Variable overhead rate variance Variable overhead efficiency variance