To determine if the Clearwater lab costs are in line with those of other hospital lobs, Goudreau has asked you to evaluate the costs for the past month. Groves has provided you with the following information a Two basic types of tests are performed in the lab--smears and blood tests. During the past month. 2,400 smears and 900 blood tests were performed in the lab b. Small glass plates are used in both types of tests. During the past month, the hospital purchased 18,000 plates at a cost of $36,666 This cost is net of a 3% purchase discount A total of 1.800 of these plates were unused at the end of the month no plates were on hand at the beginning of the month c. During the past month, 1,500 hours of labour time were used in performing smears and blood tests. The cost of this labour time was $12.750.00 d. The lab's variable overhead cost last month totalled $5,000 e Fixed overhead cost last month totalled $14,000 Clearwater Hospital has never used standard costs. By searching industry literature, however, you have determined the following nationwide averages for hospital labs. Plates: Three plates are required per la test These cost $2.10 each and are disposed of after the test is completed. Labour: Each smear should require 0.3 hours to complete, and each blood test should require 0.6 hours to complete. The average cost of this Lab time is Sie per hour. Overhead:Overhead cost is based on direct labour hours. The average rate of variable overhead is $3 per hour. The average rate of fixed overhead is 59 per hour. These rates are based on a denominator activity level of 1,5 hours per month Required: 1. Compute the materials price variance for the plates purchased last month, and compute a materials quantity variance for the plates used last month. Ondicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance).) Materials pnce variance Materials quantity variance 2-a. Compute a labour rate variance and a labour efficiency variance for the lab (indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effecte, zero variance). Do not round intermediate calculation and round your final answers to 1 decimal place.) Labour rate variance Labour Miency variance 2.b. Not available in Connect 3-6. Compute the variable overhead spending and efficiency variances (Indicate the effect of each variance by selecting "F" for favorable, "U" Por unfavorable, and "None" for no effectie. zero variance).) Variable overhead spending variance Variable overhead efficiency vanance 3-b. Not available in Connect 4. Compute the fixed overhead budget and volume variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Fixed overhead budget variance Fbced overhead volume variance