Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 4 kg at $8.00 per kg $ 32.00 Direct labour: 2 hours at $16 per hour 32.00 Variable overhead: 2 hours at $6 per hour 12.00 Total standard cost per unit $ 76.00 The company planned to produce and sell 32,000 units in March. However, during March the company actually produced and sold 37,000 units and incurred the following costs: Purchased 160,000 kg of raw materials at a cost of $7.40 per kg. All of this material was used in production. Direct labour: 67,000 hours at a rate of $17 per hour. Total variable manufacturing overhead for the month was $422,100. 1. What is the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance