Epley Corporation makes a product with the following standard costs: Standard Price or Rate 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: O $960 F $960 0 O $876 U $876 F