Puvo, Incorporated, 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 Standard Quantity 2.0 pounds Standard Price or Rate $ 4.75 per pound Direct labor 0.5 hours $ 13.00 per hour Variable manufacturing overhead 0.5 hours $ 3.00 per hour Standard Cost $ 9.50 $ 6.50 $ 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