The following materials standards have been established for a particular product:

Standard quantity per unit of output $4\mathrm{.}2$ meters

Standard price $$18\mathrm{.}40$ per meter

The following data pertain to operations concerning the product for the last month:

Actual materials purchased $7,200$ meters

Actual cost of materials purchased $$138,600$

Actual materials used in production $6,700$ meters

Actual output $1,550$ units

What is the materials price variance for the month?

Multiple Choice

$$3,658$ U

$$6,120$ U

$$7,700$ U

$$11,770$ U