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

Standard quantity per unit of output

$4\mathrm{.}4$ meters

Standard price

$$18\mathrm{.}70$ per meter

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

Actual materials purchased

Actual cost of materials purchased

Actual materials used in production

Actual output

$7,500$ meters

$$147,750$

$7,100$ meters

$1,550$ units

What is the materials price variance for the month?

Multiple Choice

$$5,516$

$$7,500$

$$7,900$

$$13,450$