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 Steinbergs 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.