Steinberg Company had the following direct materials costs for the manufacturing of product T In March: Actual purchase price per pound of direct materials $ 8.80 Standard direct materials allowed for units of product T produced 3, 400 pounds Decrease in direct materials inventory 230 pounds Direct materials used in production 3, 600 pounds Standard price per pound of material $ 8.55 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