Steinberg Company had the following direct materials costs for the manufacturing of product T in March:

Actual purchase price per pound of direct materials	$	7.80
Standard direct materials allowed for units of product T produced		2,800	pounds
Decrease in direct materials inventory		170	pounds
Direct materials used in production		3,000	pounds
Standard price per pound of material	$	7.35

Required:

1. What was Steinbergs direct materials purchase-price variance and its direct materials usage variance for March? Indicate whether each variance was favorable (F) or unfavorable (U).

Direct materials purchase-price variance
Direct materials usage variance

2. Prepare the appropriate journal entries for March.

Journal entry worksheet 1 2 > Record the cost of purchases during the month. Note: Enter debits before credits. Transaction General Journal Debit Credit 01 Record the standard direct materials cost for this period's production. Note: Enter debits before credits. General Journal Debit Credit Transaction 02