Epley Corporation makes a product with the following standard costs: Standard Price or Rale Direct materials Direct labor Variable overhead Standard Quantity or Hours 3.5 pounds 0.8 hours 0.8 hours $ 3.00 per pound $19.00 per hour $ 8.00 per hour In July the company produced 3.300 units using 12,240 pounds of the direct material and 2,760 direct labor-hours. During the month, the company purchased 13,000 pounds of the direct material at a cost of $35,100. The actual direct labor cost was $51,612 and the actual variable overhead cost was $20.148. 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: $950 F 0 $500 U 0 $875 U O $875 F