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

Actual purchase price per pound of direct materials	$ 9.40
Standard direct materials allowed for units of product T produced	4,000	pounds
Decrease in direct materials inventory	290	pounds
Direct materials used in production	4,200	pounds
Standard price per pound of material	$ 9.15

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).

2. Prepare the appropriate journal entries for March.

Direct materials purchase-price variance Direct materials usage variance