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	2.5 pounds	$6.50 per pound	$16.25
Direct labor	0.6 hours	$20 per hour	$12.0
Variable manufacturing overhead	0.6 hours	$4.75 per hour	$2.85

During March, the following activity was recorded by the company:

The company produced 5,800 units during the month.

A total of 18,500 pounds of material were purchased at a cost of $51,800.

There was no beginning inventory of materials on hand to start the month; at the end of the month,

3,700 pounds of material remained in the warehouse.

During March, 3,680 direct labor-hours were worked at a rate of $20.50 per hour.

Variable manufacturing overhead costs during March totaled $10,688.

The direct materials purchases variance is computed when the materials are purchased.

The materials price variance for March is:

$68,450 U

$29,300 F

$29,300 U

$68,450 F