Milar Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 2.0 pounds 8.6 hours 2.6 hours Standard Price or Rate $ 7.00 per pound $14.ee per hour $ 6.00 per hour In January the company produced 4.600 units using 10,120 pounds of the direct material and 2100 direct labor-hours. During the month, the company purchased 10,690 pounds of the direct material at a cost of $76,570. The actual direct labor cost was $38.256 and the actual variable overhead cost was $11957 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 materials price variance for January is Maple Choice o $1600 W O $1740F The company applies variable overhead on the basis of direct labor-hours. The direct materials purchas The materials price variance for January is: points Multiple Choice eBook Print $1.600 U References $1.740F O $1,740 u O $1,600 F O