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	2.0 pounds	$6.25 per pound	$12.50
	Direct labor	0.5 hours	$19 per hour	$9.5
	Variable manufacturing overhead	0.5 hours	$4.50 per hour	$2.25
During March, the following activity was recorded by the company:
The company produced 5,600 units during the month.
A total of 14,700 pounds of material were purchased at a cost of $41,160.
There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,940 pounds of material remained in the warehouse.
During March, 3,000 direct labor-hours were worked at a rate of $19.50 per hour.
Variable manufacturing overhead costs during March totaled $6,950.
The direct materials purchases variance is computed when the materials are purchased.
The materials price variance for March is:

$50,715 U

$22,960 F

$22,960 U

$50,715 F