Preble Company manufactures one product its variable manufacturing overhead is applied to production based on dired labour tous and its standard cost card per unit is as follows: Direct materiali 6 pounds at 58 per pound Direct labour: 4 hours at $17 per hour Variable overhead: 4 hours at 34 per hour Total standard variable cost per unit 48 68 16 $132 Fixed overhead was budgeted at $619,000. Fixed overhead is applied on the basis of direct labour hours. The company ako established the following cost formulas for its selling expenses: Variable Cost per Unit Sold Advertising Sales salaries and commissions Shipping expenses Fixed cost per Month $370,000 $ 270,000 $15.00 $ 5.09 The static (ie, 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 $72 per pound. All of this material was used in production b. Direct-labourers worked 72,000 hours at a rate of $18 per hour c. Total variable manufacturing overhead for the month was $336 600. And lixed manufacturing overhead was $614,000 d. Total advertising, sales salaries and commissions, and shipping expenses were $380,000 $430,000, and $132,000, respectively Required: If Preble had purchased 187,000 pounds of materials at $72 per pound and used 160,000 pounds in production, what would be the materials price variance for March? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever uninnre by selecting "F" for favourable. "U" for unfavourable, and "None" for no effect i.e., Required: If Preble had purchased 187000 pounds of materials at $72 per pound and used 160,000 pounds in production, what would be the materials price variance for March? (Input the amount as a positive value. Leave no cells blonk - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting F" for favourable, "U" for unfavourable, and "None" for no effect (i.e.. zero variance.) Matinals pride variance