Tovar Corporation makes a product with the following standard costs: Standard Quantity Standard Cost Direct materials 22 Direct labor Variable overhead or Hours 6.5 ounces 0.2 hours 0.2 hours Standard Price or Rate $2.00 per ounce $23.00 per hour $6.00 per hour The company reported the following results concerning this product in June. Originally budgeted output Per Unit $13.00 $4.60 $1.20 Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 2,700 units 2,800 units 19,380 ounces 21,400 ounces 500 hours $40,660 $12,050 $3,100 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: $1,820 U $2,140 U $2,140 F $1,820 F