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 or Standard Standard Quantity 5.8 pounds 0.5 hours 0.5 hours Rate Cost Direct materials Direct labor Variable manufacturing overhead 0.60per pound 3.48 $16.75 $ 8.50 per hour$ 4.25 $33.50 per hour During March, the following activity was recorded by the company: The company produced 2,400 units during the month. A total of 19,400 pounds of material were purchased at a cost of $13,580 There was no beginning inventory of materials on hand to start the month; at the end of the month, 3,620 pounds of material remained in the warehouse During March, 1,090 direct labor-hours were worked at a rate of $30.50 per hour Variable manufacturing overhead costs during March totaled $14,061. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for March is Multiple Choice $1,060 U $935 F $1,060 F $935 U