Bulluck Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateDirect materials 3.5grams$1.00per gramDirect labor 0.7hours$11.00per hourVariable overhead 0.7hours$2.00per hour?The company reported the following results concerning this product in July. Actual output 3,000unitsRaw materials used in production 11,370gramsActual direct labor-hours 1,910hoursPurchases of raw materials 12,100gramsActual price of raw materials purchased$1.20per gramActual direct labor rate$11.40per hourActual variable overhead rate$2.10per hour?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 rate variance for July is:
A. $840 U
B. $764 U
C. $764 F
D. $840 F
Answer: B
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