Majer Corporation makes a product with the following standard costs: Standard Standard Quantity Standard Price or Cost Per or Hours Rate Unit Direct materials 6.3 ounces $ 2.00 per ounce $12.60 Direct labor 0.3 hours $ 10.00 per hour $ 3.00 Variable overhead 0. 3 hours 4.00 per hour $ 1.20 The company reported the following results concerning this product in February. Originally budgeted output 4,900 units Actual output 5,000 units Raw materials used in production 30, 000 ounces Actual direct labor-hours 1,920 hours Purchases of raw materials 32, 400 ounces Actual price of raw materials $ 12.90 per ounce Actual direct labor rate 22. 40 per hour Actual variable overhead rate 4.00 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: Multiple Choice O $3,000 F O $2,937 F O $3,000 U