Question 16 (2 points) Cobb Industries developed standard costs for direct materials and direct labour. In 2021, Cobb estimated the following standard costs for one of their major products, the Cobb Container: Budgeted quantity Budgeted price Direct 0.10 kgs $30 per kg materials Direct labour 0.05 hours $15 per hour During June 2021, Cobb produced and sold 5,000 containers containing 490 kg of direct materials at an actual cost of per kilogram of $32 per hour and 250 labour hours at an actual wage of $15.25 per hour. The direct material efficiency variance for June is: $320 U $300 F $320 F $300 U