Puvo, Incorporated, manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company us has established the following standards for one unit of product Direct materials Direct labor Variable manufacturing overhead Standard Quantity 2.0 pounds Standard Price or Rate: Standard Cost $ 7.75 per pound 0.5 hours $ 25.00 per hour 0.5 hours $ 6.00 per hour $ 15.50 $12.50 $ 3.00 During March, the following activity was recorded by the company: The company produced 6,800 units during the month. A total of 17100 pounds of material were purchased at a cost of $47,880. There was no beginning inventory of materials on hand to start the month; at the end of the month, 3.420 pounds of material remained in the warehouse. During March, 3,600 direct labor-hours were worked at a rate of $25.50 per hour Variable manufacturing overhead costs during March totaled $11,000. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for March is: Multiple Choice