The standard costs for a product are as follows: Standard Quantity or Hours 6.5 ounces 0.8 hours 0.8 hours Direct materials Direct labor Variable overhead Standard Cost Per unit $13.00 514.40 $ 1.60 Standard Price or Rate $ 2.00 per ounce $ 18.00 per hour $ 2.00 per hour The company reported the following results concerning this product in February Originally budgeted output Actual output Raw materials used in production Actual direct labor hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate 4,600 units 5,300 units 30,500 ounces 2,110 hours 32,900 ounces $ 97.10 per ounce $ 87.60 per hour $ 6.10 per hour The company oppnes variable overhead on the basis of direct labor hours. The direct materials purchases variance is computed when the materials are purchased The vor alle overhead eficiency variance for February is Help Seve Actual variable overhead rate 6.10 per hour The company applles variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased, The variable overhead efficiency variance for February is: 56 Multiple Choice 54 255 F $4.255 F $4260 F 54 260