Steinberg Company had the following direct materials costs for the manufacturing of product T in March: Actual purchase price per pound of direct materials Standard direct materials allowed for units of product T produced $ 9.20 3,800 pounds Decrease in direct materials inventory Direct materials used in production Standard price per pound of material 270 pounds 4,000 pounds $ 8.95 Required: 1. What was Steinberg's 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entries for March. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to the nearest whole dollar.) 1 No Transaction 01 2 02 General Journal Direct materials inventory Direct materials purchase-price variance Accounts payable Work-in-process inventory Direct materials usage variance Direct materials inventory Debit 37,333 Credit 933 36,400 Return to question