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Steinberg Company had the following direct materials costs for the manufacturing of product T in March: Actual purchase price per pound of direct materials $ 9.10 Standard direct material Allowed tor units of product produced 3.700 pounds Decrease in direct materials inventory 260 pounds Direct materials used in production 3,900 pounds Standard price per pound of material $ 8.85 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 Complete this question by entering your answers in the tabs below. Required 1 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 () or unfavorable (U). (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Direct materials purchase price Variance Direct materials usage variance Required 2 > 5 Prepare the appropriate joumal entries for March (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet

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