The following materials standards have been established for a particular product: Standard quantity per unit of output: 4.4 grams Standard price: $13.20 per gram The following data pertain to operations concerning the product for the last month: Actual materials purchased: 4,800 grams Actual cost of materials purchased: $62,880 Actual materials used in production: 4,300 grams Actual output: 700 units

What is the materials price variance for the month?

$430 F.

$480 U.

$480 F.

$430 U.