Pardoe, Inc., 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: Standard Quantity Standard Price or Rate Standard Cost Direct materials 1.5 pounds $5.25 per pound $7.875 Direct labor 0.5 hours $15 per hour $7.5 Variable manufacturing overhead 0.5 hours $3.50 per hour $1.75 During March, the following activity was recorded by the company: The company produced 4,800 units during the month. A total of 10,700 pounds of material were purchased at a cost of $29,960. There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,140 pounds of material remained in the warehouse. During March, 2,600 direct labor-hours were worked at a rate of $15.50 per hour. Variable manufacturing overhead costs during March totaled $4,750. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for March is: $7,140 U $7,140 F $15,760 F $15,760 U