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

Standard quantity per unit of output Standard price

$4\mathrm{.}5$ meters

$$18\mathrm{.}80$ 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

$8,000$ meters

$$158,800$

$7,300$ meters

$1,560$ units

What is the materials price variance for the month?

Multiple Choice

$$14,840U$

$$8\mathrm{.}700U$

$$5\mathrm{.}558U$

$$8,400U$