Bulluck Corporation makes a product with the following standard costs Standard Quantity or Hours 4.70 grams 0.70 hours 0.70 hours Standard Price or Rate $ 2.20 per gram $23.00 per hour $ 3.20 per hour Direct materials Direct labor Variable overhead 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 $ 2.40 per gram Actual direct labor rate Actual variable overhead rate 4,200 units 12,570 grams 2,740 hours 13,300 grams $ 12.60 per hour $ 3.30 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 variable overhead efficiency variance for July is