Concord Corporation has a materials price standard of $$4$ per pound. $5300$ pounds of materials

were purchased at $$4\mathrm{.}20$ a pound. The actual quantity of materials used was $5300$ pounds

although the standard quantity allowed for the output was $3600$ pounds.

Concord Corporation's materials price variance is

$$1060$ F$.$

$$1060$ U$.$

$$1440$ U$.$

$$340$ U$.$