Majer Corporation makes a product with the following standard costs: Standard Quantity Standard Price Standard Cost 19.20 0.4 hours 13.00 per hour 5.20 or Rate Per Unit or Hours 6.4 Direct materials $ 3.00 per ounce Direct labor Variable overhead 0.4 hours $ 5.00 per hour 2.00 The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materiala used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labo rate Actual variable overhead rate 4,800 units 4,900 units 30, 230 ounces 1,910 hours 32, 600 ounces 5 2.90 per ounce 5 12.40 per hour $ 4.90 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