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Pardoe, Inc., manufactures a single product. The company uses astandard cost system and has established the following standardsfor one unit of product:StandardQuantity of inputsStandard Priceor Rate per inputStandardCost per unitDirect materials1.5 pounds$3.20 per pound$4.80Direct labor0.7 hours$5.00 per hour$3.50Pardoe's budget for March used estimated production and sales of2,900 units.During March, the following activity was recorded by thecompany:The company produced 3,000 units during the month.A total of 5,000 pounds of material were purchased and used. Thecost was $18,000.During March, 2000 direct labor hours were worked at a rate of$5.50 per hour.For all of these Pardoe questions, pick the closest answernumerically and then choose based on the U or F.The materials price variance for March is:a.$750 Fb.$2,000 Uc.$1,000 Ud.$1,000 Fe.$750 Uf.$2,000 F