Puvo, 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 Price Standard Standard Quantity or Rate Cost Direct materials 1.5 pounds $ 5.25 per pound $ 7.88 Direct labor 0.5 hours $15.ee per hour $ 7.50 variable manufacturing overhead e.5 hours $ 3.50 per hour $ 1.75 During March, the following activity was recorded by the company The company produced 4,800 units during the month. A total of 10,700 pounds of material were purchased at a cost of $29.960. There was no beginning inventory of materials on hand to start the month at the end of the month. 2.140 pounds of material remained in the Warehouse . During March 2.600 direct labor-hours were worked at a rate of $15.50 per hour. Variable manufacturing overhead costs during March totaled $4,750. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for March is: Multiple Choice 57.140 F 5157607 515760 57.140 U