Part 1 of4 0/1 points awarded Required information [The following information applies to the questions displayed below. ] Preble Company manufactures one product. lts variable manufacturing overhead is applied to production based on direct laborhours and its standard cost card per unit is as follows: Direct materials: 6 pounds at $8 per pound $ 48 Direct labor: 4 hours at $17 per hour 63 Variable overhead: 4 hours at $4 per hour 16 Total standard cost per unit $132 The planning budget for March was based on producing and selling 19,000 units. However, during March the company actually produced and sold 24,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.20 per pound. All ofthis material was used in production. b. Direct laborers worked 72,000 hours at a rate of $18 per hour. c. Total variable manufacturing overhead for the month was $336,960. Required: 1. What raw materials cost would be included in the company's planning budget for March? $ 960.000 9 5. If Preble had purchased 187,000 pounds of materials at $7.20 per pound and used 160,000 pounds in production, what would be 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.). Input all amounts as positive values. Do not round intermediate calculations.) 3. 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.). Input all amounts as positive values.) 7. What direct labor cost would be included in the company's planning budget for March