Gllder Corporation makes a product with the following standard costs: Standard Quantity of Standard Price or Hours Rate $4.00 per gram 1.3 hours $13.00 per hour 1.3 hours $4.00 per hour Direct materials Direct labor Variable overhead 3.8 grams Standard Cost Per Unit $15.20 $16.90 $5.20 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 Actual direct labor cost Actual variable overhead cost 7.700 units 7,600 units 28,320 grams 31200 grams 3,900 hours $127,920 $54,210 $14,430 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 quantity variance for June is: $2,296 F 0 $2,296 U O $2,240 F O $2.240 0