Mulluck Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Rate Direct materials 3.5grams $ 1.00per gram Direct labor 0.7 hours $ 11.00per hour Variable overhead 0.7hours $ 2.00per hour The company reported the following results concerning this product in July. Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials purchased Actual direct labor rate Actual variable overhead rate 3,000 units 11,370grams 1,910 hours 12,100grams $ 1.20per gram $ 11.40per hour $ 2.10 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. The materials price variance for July is: O $2,420 F O $2,100 F 0 $2,100U $2,420 U