Bryant Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Direct materials 5.0 gram $ 2.50 per gram Direct labor 0.5 hours $26.00 per hour Variable overhead 0.5 hours $ 3.50 per hour Rate The company reported the following results concerning this product in July. Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials purchased Actual direct labor rate Actual variable overhead rate 4,500 units 12,870 grams 2,000 hours 13,600 grams $ 2.70 per gram $ 12.90 per hour $ 3.60 per hour e company applies variable overhead on the basis of direct labor-hours. The direct materials purch puted when the materials are purchased. vaciable.overhead efficiency variance for July isi