Tharaldson Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 5.6 ounces 0.7 hours 0.7 hours Standard Price or Rate $ 3.00 per ounce $ 10.00 per hour $ 7.00 per hour The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours 4,000 units 4,000 units 20,000 ounces 22,900 ounces 5,500 hours Standard Cost Per Unit $ 16.80 $7.00 $ 4.90 Actual cost of raw materials purchases $ 42,700 Actual direct labor cost $ 14,000 Actual variable overhead cost $ 4,000 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 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 Multiple Choice $26,000 F $26,000 U $2,061 F $2.061 U