Majer Corporation makes a product with the following standard costs: Standard Quantity or Hours 6.4 ounces Standard Price or Rate Standard Cost Per Unit $ 12.80 Direct materials Direct labor Variable overhead $ 2.00 per ounce 0.6 hours $ 16.00 per hour $ 9.60 0.6 hours $ 2.00 per hour $ 1.20 The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate 5,700 units 5,100 units 31,000 ounces 7,980 hours 33,400 ounces $112.90 per ounce $ 122.40 per hour Actual variable overhead rate $ 5.00 per hour 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 February is: