The following materials standards have been established for a particular product: Standard quantity per unit of output 6.0 meters Standard price $18.30 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 9,700

meters Actual cost of materials purchased $185,270

Actual materials used in production 9,200 meters

Actual output 1,510 units What is the materials price variance for the month?

$2,674 U $7,760 U $10,200 U $15,950 U