2 Standard Quantity or Hours 6.1 ounces 0.4 hours 0.4 hours Direct materials Direct labor Variable overhead 0.5 points Standard Price or Rate $ 3.00 per ounce $ 16.00 per hour $ 3.00 per hour Standard Cost Per Unit $ 18.30 $ 6.40 $ 1.20 X 00:50:19 The company reported the following results concerning this product in February eBook Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate 5,000 units 6,100 units 33,500 ounces 2,070 hours 35,900 ounces $ 57.10 per ounce $ 47.60 per hour $ 2.50 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for February is: Multiple Choice 0 $1,040 0