4 pts Question 17 Tharaldson Corporation makes a product with the following standard costs Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 5.3 ounces $2.00 per ounce $ 10,60 Direct labor 0.2 hours $ 14,00 per hour $ 2.80 Variable overhead 0.2 hours $ 4,00 Der hour $ 80 The company reported the following results concerning this product in June. Originally budgeted output 4,300 units Actual output 4,100 units Raw materials used in production 20.900 ounces Purchases of raw materials 22,000 ounces Actual direct labor-hours 570 hours Actual cost of raw materials purchases $39.400 Actual direct labor cost $14.300 Actual variable overhead cost $4.150 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 company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased The labor efficiency variance for June is 54060F $3.500U 54,060 $3.500F