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

Decrease in direct materials inventory

Direct materials used in production

Standard price per pound of material

$$8\mathrm{.}40$

$3,000$ pounds

$190$ pounds

$3,200$ pounds

$$8\mathrm{.}15$

Required:

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 $(U).$

Prepare the appropriate journal entries for March.