The following materials standards have been established for a particular raw material used in the company's...

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The following materials standards have been established for a particular raw material used in the company's sole product: Standard quantity per unit of output 0.1 pound Standard price $18.20 per pound The following data pertain to operations for the last month: Actual materials purchased 5,700 pounds Actual cost of materials purchased $100,320 Actual output 55,800 units What is the materials price variance for the month? The following materials standards have been established for a particular raw material used in the company's sole product: Standard quantity per unit of output 0.1 pound Standard price $18.20 per pound The following data pertain to operations for the last month: Actual materials purchased 5,700 pounds Actual cost of materials purchased $100,320 Actual output 55,800 units What is the materials price variance for the month?