8 4:01 TB MC Qu. 10-34 (Algo) The following materials standards. ANY The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 4.5 meters $17.60 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output What is the materials price variance for the month? 7,000 meters $126,350 6,600 meters 1,440 units 00:53:42 $3,150 U $7,400 U $2,166 U $8,710 U