The following materials standards have been established for a particular product Standard quantity per unit of output Standard price 5.3 meters $17.20 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased $141 Actual materials used in production Actual output 8,100 meters ,345 7,600 meters 1,400 units What is the materials price variance for the month? Multiple Choice