Steinberg Company had the following direct materials costs for the manufacturing of product in March Actual purchase price per pound of direct materials Standard direct materials allowed for units of product produced Decrease in direct materials inventory Direct materials used in production Standard price per pound of naterial $ 9.20 4,1ee pounds 3ee pounds 4,300 pounds $ 8.75 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 Required 1 4 Required 2 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). (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Direct materiais purchase price variance Direct materials usage variance RE Required 2 > 1 2 Record the cost of purchases during the month. Note: Enter debits before credits Transaction General Journal Debit Credit 01 Record entry Clear entry View general journal A no Record the standard direct materials cost for this period's production. Note: Enter debits before credits. Transaction 02 General Journal Debit Credit Record entry Clear entry View general Journal