Miguez Corporation makes a product with the following standard costs: Standard Quantity Standard Price Standard Cost or Bours 2.3 liters or Rate Per Unit $ 16.10 Direct materials Direct labor 7.00 per $22.00 per s 2.00 per liter 0.7 hours 15.40 hour $1.40 Variable overhead 0.7 hours hour The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials ane purchasecd