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: Direct materials Direct labor Variable manufacturing overhead Standard Quantity 2.0 pounds 0.5 hours 0.5 hours Standard Price or Standard Rate Cost $ 4.75 per pound $9.50 $13.00 per hour $6.50 $ 3.00 per hour $1.50 During March, the following activity was recorded by the company: . The company produced 4,400 units during the month. A total of 12,300 pounds of material were purchased at a cost of $34,440. There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,460 pounds of material remained in the warehouse. . During March, 2.400 direct labor-hours were worked at a rate of $13.50 per hour. Variable manufacturing overhead costs during March totaled $3,800. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for March is: Multiple Choice material remained in the warehouse. During March, 2,400 direct labor-hours were worked at a rate of $13.50 per hour. Variable manufacturing overhead costs during March totaled $3,800. he direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for March is: 1 Multiple Choice 0 $4,940 F 0 $18,640 F $18,640 F 0 $18,640 U 0