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

Actual purchase price per pound of direct materials $ 8.60 Standard direct materials allowed for units of product T produced 3,200 pounds Decrease in direct materials inventory 210 pounds Direct materials used in production 3,400 pounds Standard price per pound of material $ 8.35

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. do the appropriate journal entries for March.