The following materials standards have been established for a particular product: Standard quantity per unit of output 4.5 meters Standard price $ 17.60 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,000 meters Actual cost of materials purchased $ 126,350 Actual materials used in production 6,600 meters Actual output 1,440 units What is the materials price variance for the month?

Multiple Choice

• $2,166 U

• $8,710 U

• $7,400 U

• $3,150 U