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5 A Bullock Corporation makes a product with the following standard costs: Standard Quantity or...

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Accounting

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5 A Bullock Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 4.50grams $ 2.00 Per gram Direct labor 0.50hours $ 21.00 Per hour Variable overhead 0,50hours $ 3.00 per hour The company reported the following results concerning this product in July Actual output 4000 units Raw materials used in production 12,370grams Actual direct labor hours 1750hours Purchases of raw materials 13,100grams Actual price of raw materials purchased $ 2.2Oper gram Actual direct labor rate $ 12.4 per hour Actual variable overhead rate $ 3.10per 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 variable overhead efficiency variance for July is

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