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

Standard quantity per unit of output		5.0	meters
Standard price	$	17.30	per meter

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

Actual materials purchased		7,600	meters
Actual cost of materials purchased	$	133,760
Actual materials used in production		7,200	meters
Actual output		1,410	units

What is the materials price variance for the month?

Multiple Choice

$2,640 U

$2,280 U

$8,000 U

$8,470 U