Majer Corporation makes a product with the folowing standard costs Standard Quantity or Hours Standard Price or Cost Per Unit Direct materials Direct labor Variable overhead 6-7 ounces 0.3 hours 0.3 hours $ 2.00 per ounce $13.40 s14.00 per $ 2.00 per hour 4.20 $.60 14.00 per hour The company reported the following results concerming this product in February Originally budgeted output Actual output Raw materials used in production Actual direct labor-bours 5,300 units 8,100 units 30,400 ounces 1,940 hours 32,800 ounces Actual price of rav naterials Actual direet labor rate Actual variable overhead rate 52.90 per ounce $ 62.40 per hour 1.10 per hour The company applies variable overhead on the basis of direct labor-hours. The drect materials purchases variance is computed when the materials are purchased The variable overhead rate variance for February is Muitiple Choice 46 2 B0 2 3 4