The following materials standards have been established for a particular product Standard quantity per unit of outpt 4.4 pounds Standard price $13.20 per pound The following data pertain to operations concerning the product for the last month: 4,800 pounds Actual materials purchased Actual cost of materials purchase $62,880 Actual materials used in production Actual output 4,800 pounds 700 units The direct materials purchases variance is computed when the materials are purchased. What is the materials price variance for the month? Multiple Choice $480 F $308 U Actual materials used in production Actual output 4,800 pounds 700 units The direct materials purchases variance is computed when the materials are purchased. What is the materials price variance for the month? Multiple Choice $480 F $308 U $308 F $480 U