21 Puvo. Incorporated, manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product 0.33 DO Standard Quantity Direct materials 2.5 pounds Direct labor 0.6 hours Variable manufacturing overhead 0.6 hours During March the following activity was recorded by the company: Standard Price or late Standard cost $ 5.00 per pound $ 12.50 S 14.00 per hour S 8.40 $ 3.25 per hour $ 1.95 Book The company produced 4,600 units during the month A total of 15,000 pounds of material were purchased at a cost of $42.000 There was no beginning inventory of materials on hand to start the month at the end of the month 3,000 pounds of material remained in the warehouse During March 2,960 direct labor hours were worked at a rate of $14,50 per hour Variable manufacturing overhead costs during March totaled 55,972. The direct materials purchases variance is computed when the materials are purchased The materiais quantity variance for March is Multiple Choice $2.500 F