Buluck Corporation makes a product with the following standard costs Standard Quantity or Standard Price or ours Rate Direct materials Direct labor Variable overhead .5 grams1.00 per gram 0.7 hours $11.00 per hour 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 1.20 per gram Actual direct labor rate Actual variable overhead rate 3,000 units 11,370 grams 1,910 hours 12,100 grams s 11.40 per hour s 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