Tharaldson Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 7.7 ounces 0.2 hours 0.2 hours Standard Price or Rate $ 2.00 per ounce $11.00 per hour $ 4.00 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 3,100 units) 2,500 units 20,500 ounces 23,400 ounces 450 hours Standard Cost Per Unit $ 15.40 $ 2.20 $.80 Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost $ 45,100 $ 13,100 $ 3,550 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 labor efficiency 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 labor efficiency variance for June is: Multiple Choice $1870 F $550 U $1,870 U $550 F