Doogan Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 2.0 grams 1.5 hours 1.5 hours Standard Price or Rate $ 7.00 per gram $15.00 per hour $ 3.00 per hour The company produced 4,500 units in January using 10,210 grams of direct material and 2,190 direct labor hours. During the month, the company purchased 10,780 grams of the direct material at $7.20 per gram. The actual direct labor rate was $15.60 per hour and the actual variable overhead rate was $2,90 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases verlance is computed when the materials are purchased The materials quantity variance for January is Multiple Choice $8.4700 500 2