9 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: 2.08 points 00:34:55 Standard Quantity 2.0 pounds Standard Price or Rate Standard Cost $ 7.00 per pound 0.6 hours $ 22.00 per hour $ 14.00 $ 13.20 0.6 hours $5.25 per hour $ 3.15 Direct materials Direct labor Variable manufacturing overhead During March, the following activity was recorded by the company: The company produced 6,200 units during the month. A total of 15,900 pounds of material were purchased at a cost of $44,520. There was no beginning inventory of materials on hand to start the month; at the end of the month, 3,180 pounds of material remained in the warehouse. During March, 3,920 direct labor-hours were worked at a rate of $22.50 per hour. Variable manufacturing overhead costs during March totaled $12,548. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for March is: Multiple Choice $2,240 F $25,120 U $25,120 F $2,240 U