Bulluck Corporation makes a product with the following standard costs: \table[], Standard Quantity or, J., Hours, Standard Price or Rate), (Direct materials,3.5 grams. $1.00 per gram), (Direct labor.0.7 hours, $11.00 per hour], [Variable overhead, 0.7 hours, $2.00 per hour] 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 3,000 units 11,370 grams 1,910 hours 12, 100 grams $1.20 per gram $11.40 per hour $2.10 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 July is: Multiple Choice A) $2, 100U B)S 2,420F C)S2, 100F D)52, 420U

Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 3.5 grams $ 1.00 per gram Direct labor 0. 7 hours $ 11.00 per hour Variable overhead 0. 7 hours $ 2.00 per hour The company reported the following results concerning this product in July. Actual output 3,000 units Raw materials used in production 11, 370 grams Actual direct labor-hours 1, 910 hours Purchases of raw materials 12, 100 grams Actual price of raw materials purchased $ 1. 20 per gram Actual direct labor rate $ 11 . 40 per hour Actual variable overhead rate $ 2. 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 July is: Multiple Choice