Direct materials Direct labor Variable overhead Standard Quantity or Hours 2.5 gras 0.7 hours 0.7 hours Standard Price or Rate 11.00 per gram $9.00 per hour $ 3.00 per hour The company reported the following results concerning this product in June Actual output Raw materials used in production Actuat direct laber-hours Purchases of raw materials Actual price of raw materials purchased Actual direct labertate Actual variable overhead rate 3,000 units 11.370 g 1.910 hours 12.100 1.20 per gran 11.40 per hour per hour . 2.10 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 (LRV) for June is: a $764 F b. $764 U c. $4,584 U d. $4,584 F