Sheridan Company has a materials price standard of $4 per pound. 5000 pounds of materials were purchased at $4.20 a pound. The actual quantity of materials used was 5000 pounds although the standard quantity allowed for the output was 3600 pounds. Sheridan Company's materials price variance is

$1000 U.

$280 U.

$1000 F.

$1440 U.

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