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: During March, the following activity was recorded by the company: - The company produced 5,600 units during the month. - A total of 14,700 pounds of material were purchased at a cost of $41,160. - There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,940 pounds of material remained in the warehouse. - During March, 3,000 direct labor-hours were worked at a rate of $19.50 per hour. - Variable manufacturing overhead costs during March totaled $6,950. The direct materials purchases variance is computed when the materials are purchased