Majer Corporation makes a product with the following standard costs: Standard Quantity or Hours Direct materials Direct labor Variable overhead 2.0 ounces Standard Cost Per Unit $20.00 $12.80 $ 6.80 Standard Price or Rate $ 10.00 per ounce $ 16.00 per hour $ 8.50 per hour 0.8 hours 0.8 hours 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 Actual variable overhead rate 9,600 units 9,400 units 14,400 ounces 7,720 hours 16,000 ounces $ 9.75 per ounce $ 16.80 per hour $ 8.30 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materia The materials price variance for February is: Multiple Choice $47,600 U $47.600 F $4.000 F $4.000 U