Oddo Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 3.0 ounces $ 7.00 per ounce $21.00 Direct labor 0.7 hours $20.00 per hour $14.00 Variable overhead 0.7 hours $ 5.00 per hour $ 3.50 The company reported the following results concerning this product in December. Originally budgeted output 4,400 units Actual output 4,200 units Raw materials used in production 12,820 ounces Actual direct labor-hours 3,160 hours Purchases of raw materials 14,500 ounces Actual price of raw materials $ 6.80 per ounce Actual direct labor rate $ 18.30 per hour Actual variable overhead rate $ 5.10 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 variable overhead rate variance for December is: $316 F $294 U $294 F $316 U