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: Standard Quantity Standard Price or Rate Standard Cost Direct materials 2.8 pounds $ 6.25 per pound $ 12.56 Direct labor 9.5 hours $ 19.99 per hour $ 9.56 Variable manufacturing overhead 9.5 hours $ 4.56 per hour $ 2.25 During March, the following activity was recorded by the company: The company produced 5600 units during the month. A total of 14.700 pounds of material were purchased at a cost of $41160. There was no beginning inventory of materials on hand to start the month; at the end of the month, 2940 pounds of material remained in the warehouse. During March, 3,000 direct laborehours 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. The materials quantity variance for March is: The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for March is: Multiple Choice 0 $3.500 U $3,500 F $22960 F O 0 $22,960 U