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 $ 8.00 2,600 pounds 150 pounds 2,800 pounds $ 7.75 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