The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 5.2 meters $18.00 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 8, 100 meters Actual cost of materials purchased $151,065 Actual materials used in production 7, 700 meters Actual output 1,450 units What is the materials price variance for the month? Multiple Choice S500 MC Graw Min hp c 0 What is the materials price variance for the month? Multiple Choice $8.500 U $5.265 U $2.984U $11.915 U - hp