Milar Corporation makes a product with the following standard costs: In January the company produced 4,900 units using 10,250 pounds of the direct material and 2,230 direct labor-hours. During the month, the company purchased 10,820 pounds of the direct material at a cost of $76,700. The actual direct labor cost was $38,235 and the actual variable overhead cost was $11,936. 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: The materials price variance for January is: Multiple Choice $820U $960F $960U $820F Milar Corporation makes a product with the following standard costs: In January the company produced 4,900 units using 10,250 pounds of the direct material and 2,230 direct labor-hours. During the month, the company purchased 10,820 pounds of the direct material at a cost of $76,700. The actual direct labor cost was $38,235 and the actual variable overhead cost was $11,936. 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: The materials price variance for January is: Multiple Choice $820U $960F $960U $820F