Valport Valve Company manufactured 15,600 units during March of a control valve used by milk processors in its Shreveport plant. Records indicated the following:

Direct labor		80,200	hr. at $10.95
Direct material purchased		50,000	lb. at $5.20
Direct material used		46,200	lb.

The control valve has the following standard prime costs.

Direct material:	3	lb. at $5.00 per lb.	$	15.00
Direct labor:	5	hr. at $11.25 per hr.		56.25
Standard prime cost per unit			$	71.25
For the month of March, compute the following variances. Direct Material Purchase Price Variance Direct Material Price VAriance