(9,000 * 3.0 - 26,680) x 9.50

= 320 * 9.50 = 3,040

That's nowhere near the answer?

Majer Corporation makes a product with the following standard costs: Standard Quantity or Hours 3.0 ounces 0.7 hours 0.7 hours Direct materials Direct labor Variable overhead Standard Cost Per Unit $28.50 $10.85 $ 5.60 Standard Price or Rate $ 9.50 per ounce $ 15.50 per hour $ 8.00 per hour The company reported the following results concerning this product in February 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 9,200 units 9,000 units 26,680 ounces 6,500 hours 28, 280 ounces 9.25 per ounce 14.85 per hour 7.10 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 materials price variance for February is: Multiple Choice o $7,070F o $9,710F o $9,710 U o $7,070 U