Puvo, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-ho 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 6.30 pounds 0.50 hours 0.50 hours Standard Price or Rate $ 1.10 per pound $38.50 per hour $ 9.00 per hour Standard Cost $6.93 $19.25 $ 4.50 During March, the following activity was recorded by the company. The company produced 2.900 units during the month. A total of 19,900 pounds of material were purchased at a cost of $14,080. There was no beginning inventory of materials on hand to start the month at the end of the month, 4,120 pounds of material remained the warehouse . During March, 1.140 direct labor-hours were worked at a rate of $35.50 per hour. Variable manufacturing overhead costs during March totaled $14,561. During March, the following activity was recorded by the company. The company produced 2.900 units during the month. A total of 19.900 pounds of material were purchased at a cost of $14,080 There was no beginning inventory of materials on hand to start the month; at the end of the month, 4120 pounds of material remaines the warehouse . During March, 1,140 direct labor-hours were worked at a rate of $35.50 per hour. Variable manufacturing overhead costs during March totaled $14,561 The direct materials purchases variance is computed when the materials are purchased The variable overhead rate variance for March is