Multiple Choice Question 103 Concord Corporation has a materials price standard of $2.00 per pound. 5400 pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 5400 pounds, although the standard quantity allowed for the output was 5200 pounds. Concord Corporation's materials price variance is 0 $1080 10, 0 540 U. $1080 F, 0 $1040 U