Puvo, Incorporated, manufactures a single product in which variable manufacturing overheed 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 Rate Direct materials Direct labor Standard Quantity 2.5 pounds $ 6.50 per pound 0.6 hours $ 20.00 per hour 0.6 hours $ 4.75 per hour Standard Coat $16.25 $12.00 Variable manufacturing overhead During March, the following activity was recorded by the company The company produced 5,800 units during the month. A total of 18,500 pounds of material were purchased at a cost of $51,800. $2.85 There was no beginning inventory of materials on hand to start the month; at the end of the month, 3,700 pounds of material remained in the warehouse. During March, 3,680 direct labor-hours were worked at a rate of $20.50 per hour. Variable manufacturing overhead costs during March totaled $10,688. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for March is: