Answer Requirements 1 and 2

Steinberg Company had the following direct materials costs for the manufacturing of product T in March: Actual purchase price per pound of direct materials $ 8.96 Standard direct materials allowed for units of product T produced 2,696 pounds Decrease in direct materials inventory 156 pounds Direct materials used in production 2,896 pounds Standard price per pound of material $ ?.?5 Required: 1. What was Steinberg's direct materials purchaseprice variance and its direct materials usage 1lu'ariance for March? Indicate each variance was favorable {F} or unfavorable {U}. 2. Prepare the appropriatejournal entries for March. 0 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entries for March. {Do not round intermediate calculations. If no entry is required for a transactioni'event, select "No journal entry.r required\" in the first account eld. Round nal answers to the nearest whole dollar amount.) Direct materials inventory a 1?,414 a - - W... _ we Steinberg Company had the following direct materials costs for the manufacturing of product T in March: Actual purchase price per pound of direct materials $ 8.99 Standard direct materials allowed for units of product T produced 2,599 pounds Decrease in direct materials inventory 159 pounds Direct materials used in production 2,899 pounds Standard price per pound of material $ T35 Required: 1. What was Steinberg's direct materials purchaseprice variance and its direct materials usage variance for March? Indicate whether each variance was favorable {F} or unfavorable {U}. 2. Prepare the appropriatejournal entries for March. 6 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What was Steinberg's direct materials purchase-price variance and its direct materials usage variance for March? Indicate whether each variance was favorable {F} or unfavorable {U}. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Direct materials purchaseprice valiance $ 933 a Unfavorable a _1me o