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 2.5 pounds $ 5.00 per pound $ 12.50 Direct labor 0.6 hours $ 14.00 per hour $ 8.40 Variable manufacturing overhead 0.6 hours $ 3.25 per hour $ 1.95 During March, the following activity was recorded by the company: The company produced 4,600 units during the month. A total of 15,000 pounds of material were purchased at a cost of $42,000. There was no beginning inventory of materials on hand to start the month; at the end of the month, 3,000 pounds of material remained in the warehouse. During March, 2,960 direct labor-hours were worked at a rate of $14.50 per hour. Variable manufacturing overhead costs during March totaled $5,972. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for March is