Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: oft Direct materi11 5 pounds at $10 per pound Direct Labor 4 hours at $16 per hour Variable overheadt 4 hours at $7 per hour Total standard cont per unit 950 64 28 $142 The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,600 units and incurred the following costs: ok a. Purchased 164,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production, b. Direct laborers worked 57,000 hours at a rate of $17 per hour, c. Total variable manufacturing overhead for the month was $653,220 Foundational 10-5 5. If Preble had purchased 172,000 pounds of materials at $7.50 per pound and used 164,000 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 (.e., zero variance.), Input all amounts as positive values.) Materiale price variance