Oddo Corporation makes a product with the following standard costs: Direct materials Direct labor Varlable overhead Standard Quantity Standard Price or Standard Cost Rate $7.20 per ounce $18.00 per hour $6.00 per hour or Hours 4.0 ounces 0.7 hours 0.7 hours Per Unit $28.80 $12.60 $4.20 The company reported the following results concerning this product in December Originally budgeted output4,420 units Actual output Raw materials used in production17100 ounces 4,220 units 3,174 hours Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual varlable overhead rate 18,800 ounces $700 per ounce $6.20 per hour The company applies vartiable overhead on the basis of direct labor-hours. The direct materials purchases varlance is computed when the materials are purchased The variable overhead efficiency vartance for December is: O $1.364 U O $1,320 F O $1.320 u O $1,364 fF