Standard Quantity or Hours Standard Cost Per Unit Standard Price or Rate 700 per Direct materials 6.5pounds $ $ 45.50 pound Direct labor 0.6hours $ 24.00per hour $ 14.40 Variable overhead 0.6hours $ 4.00per hour $ 2.40 In June the company's budgeted production was 3.400 units but the actual production was 3,500 units. The company used 22,150 pounds of the direct material and 2,290 direct labor-hours to produce this output. During the month, the company purchased 25,400 pounds of the direct material at a cost of $170,180. The actual direct labor cost was $57,021 and the actual variable overhead cost was $8,931. 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 June is