119:55 Tharaldson Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours Standard Price or Rate. 6.8 ounces $ 4.00 per ounce 0.7 hours 0.7 hours $ 12.00 per hour $7.00 per hour The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 2,200 units 2,700 units 17,000 ounces 18,000 ounces 4,200 hours $ 45,000 $ 12,200 $ 3,100 Standard Cost Per Unit $ 27.20 $ 8.40 $ 4.90 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed whe The materials price variance for June is