TB MC Qu. 10-82 Bulluck Corporation makes a.. Bulluck Corporation makes a product with the following standard costs Standard Quantity or Hours Standard Price or Rate 3.5 grams 0.7 hours $11.00 per hour e.7 hours 2.e0 per hour s1.e0 per gram Direct materials Direct labor Variable overhead The company reported the following results conceming this product in July Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials 3,000 units 11,37e grams 1,910 hours 12,100 grams Actual price of raw materials purchased Actual direct labor rate 1.20 per gram 11.48 per hour s 2.10 per hour Actual variable overhead rate The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materlals are purchased. The materials price variance for July is: The materials price variance for July is: Multiple Choice $2,100 U $2.420 F $2100 F $2.420 U eonesio Corporation makes a product that uses a material with the following standards Standard quantity 8.2 kilos per unit Standard price Standard cost 4.e0 per kilo $32.80 per unit The company budgeted for production of 3,100 units in August, but actual production was 3.200 units. The company used 27600 kilos of direct material to produce this output. The company purchased 29,000 kilos of the direct material at a total cost of $118,900. The direct materials purchases varlance is computed when the materials are purchased. The materials quantity variance for August is: Mutiple Choice $5.576 F $5 576 U The materials quantity variance for August is: Multiple Choice $5.576 F $5,576 U $5,440 F $5.440 U