QUESTION 17 The following materials standards have been established for a particular product Standard quantity per unit of output 6.8 meters Standard Price $14.40 per meter The following materials standards have been established for a particular product Actual materials purchased 4,400 meters Actual cost of materials purchased $60,500 Actual materials used in production 3,800 meters Actual output 400 units What is the materials price variance for the month? $14.850 U $8,250 U $8,640 U $2,860 F