HAM Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Standard Quantity or Standard Price or cont. Per Hours Rate Unit 6.8 ouncem $ 4.00 per ounce $27.20 0.7 hours $12.00 per hour $ 8.40 0.7 hours $ 7.00 per hour $ 4.90 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 coat 2,200 units 2,700 units 17,000 ounces 18,000 ounced 4,200 hours $ 45,000 $12,200 $ 3,100 The company applies variables 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: The materials price variance for June is: Multiple Choice $1,620 F $1,620 U $27.000 U $27.000 F