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Excel Template: Problem 11-2 CHECK FIQURES Becton Labs Inc. produces various chemical compounds for industrial(1a) Materials price use. One compound, called Fludex, is prepared by means of an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: vaniance: $15.000 F (2a) Labour efficiency variance: $4,375 U Direct materials Direct labour Variable overhead 2.5 mL at $20 per millilitre 1.4 hours at $12.50 per hour 1.4 hours at $3.50 per hour During November, the following activity was recorded by the company relative to production of Fludex a. Materials were purchased, 12,000 millitres at a cost of $225,000. b. There was no beginning inventory of materials on hand to start the month; at the end of the month c. The company employs 35 lab technicians to work on the production of Fludex. During November, d. Variable manufacturing overhead is assigned to Fludex on the basis of direct labour-hours. e. Fixed overhead is also allocated on the basis of direct labour-hours. The company had budgeted . Duri 2,500 mililitres of material remained in the warehouse unused each worked an average of 160 hours at an average rate of $12 per hour Variable manufacturing overhead costs during November totalled $18.200 $14,000 for the month but underapplied it by $675. ng November, 3.750 good unts of Fludex were produced. The normal volume for the month is 4,000 good units. company's management is anxous to determine the efficiency of the activitles surrounding the production of Flu the relevant standard. dex. The company's policy is to investigate any variance more than 2% diferent from y felative to production of Fludex: tre purchased, 12,000 millitres at a cost of $225,000. b. There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,500 millilitres of material remained in the warehouse unused c. The company employs 35 lab technicians to work on the production of Fludex. During November each worked an average of 160 hours at an average rate of $12 per hour d. Variable manufacturing overhead is assigned to Fludex on the basis of direct labour-hours able manufacturing overhead costs during November totalled $18,200. e. Fixed overhead is also allocated on the basis of direct labour-hours. The company had budgeted $14,000 for the month but underapplied it by $675. t. During November, 3,750 good units of Fludex were produced. The normal volume for the month is 4,000 good units. The company's management is anxious to determine the efficiency of the activities surrounding the production of Fludex. The company's policy is to investigate any variance more than 2% different from the relevant standard Page 715 Required: 1. a. For materials used in the production of Fludex, compute the price and quantity variances. b. The materials were purchased from a new supplier who is anxious to enter into a long-ternm a. For direct labour employed in the production of Fludex, compute the rate and efficiency b. In the past, the 35 technicians employed in the production of Fludex consisted of 20 senior purchase contract. Would you recommend that the company sign the contract? Explain. 2. variances. technicians and 15 assistants. During November, the company experimented with only 15 senior technicians and 20 assistants in order to save costs. Would you recommend that the new labour mix be continued? Explain, 3. Compute the variable overhead spending and efficiency variances. What relationship can you see between this etficiency variance and the labour efficiency variance? 4. Compute the fixed overhead cost variances for November