Gilder Corporation makes a product with the following standard costs Standard Quantity or Standard Price or Standard Cost Hours 3.2 grams 0.7 hours 07 hours Rate Per Unit $4.00 per gram Direct materials Direct labor Variable overhead $9.10 $4.00 per hour The company reported the following results concerning this product in June Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases $125,460 Actual direct labor cost Actual variable overhead cost 8.700 units 8,600units 26,990 grams 30,600grams 3,300 hours $45,870 $12,210 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 materials price variance for June is