Standard Quantity or Standard Cost Hours Standard Price or Rate Per Unit Direct material 5.4 ounces $ 3.00 per ounce $ 16.20 Direct labor 0.7 hours $ 12.00 per hour $ 8.40 Variable overhead 0.7 hours $ 9.00 per hour $6.30 The company reported the following results concerning this product in June. Originally budgeted output 4,200 units Actual output 4,200 units Raw materials used in production 20, 400 ounces Purchases of raw materials 21,500 ounces Actual direct labor-hours 5,300 hours Actual cost of raw materials purchases $ 42,900 Actual direct labor cost $ 14,200 Actual variable overhead cost $ 4,100 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