Majer Corporation makes a product with the following standard costs Standard Quantity or Hours Standard Price or Rate Direct materials 6.6 ounces $ 4.00 per ounce Direct labor 0.5 hours $ 13.00 per hour Variable overhead 0.5 hours $ 4.00 per hour The company reported the following results concerning this product in February Standard Cost Per Unit $26.40 $ 6.50 $ 2.00 010425 Originally budgeted output 5,200 units Actual output 8,000 units Raw materials used in production 30,500 cunces Actual direct labor hours 1,930 hours Purchases of raw materials 31, 100 ounces Actual price of raw materials $ 42.90 per ounce Actual direct labor rate $ 52.40 per hour Actual variable overhead rate 5.4.30 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 variable overhead efficiency variance for February