5.5 Ounces Standard Quantity or Hours Standard Price or RateStandard Cost Per Unit Direct materials $2.00 per ounce $11.00 Direct labor 0.6 hours $11.00 per hour $ 6.60 Variable overhead 0.6 hours $8.00 per hour $ 4,80 Originally budgeted output 4,100 units Actual output 4,100 units Raw materials used in production 20.500 ounces Purchases of raw materials 21,600 ounces Actual direct labor-hours 4,800 hours Actual cost of raw materials purchases $42,800 Actual direct labor cost $14,100 Actual variable overhead cost $4,050 Compute the materials price variance where the company applies variable overhead on the basis of direct labor-hours. 51.944U $1.944 F $400 U $400 F