3. The following materials standards have been established for a particular raw material used in the company's sole product: Standard quantity per unit of output .......... 1.0 pound Standard price ............................................ $17.60 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased ....................... 2,400 pounds Actual cost of materials purchased ........... $35,650 Actual materials used in production .......... 2,000 pounds Actual output ............................................. 2,100 units What is the materials quantity variance for the month? a. $1,760 U b. $1,760 F c. $5,280 U d. $5,280 F 2 4. Using the same information in Question 3, what is the material price variance for the month? a. $6,590 U b. $6,590 F c. $1,310 F d. $1,310U