The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 4.5 meters $18.80 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 8,000 meters Actual cost of materials purchased $158, 800 Actual materials used in production 7, 300 meters Actual output 1,560 units What is the materials price variance for the month? Multiple Choice $5,558 U $8,400 U O $8,700 U O $14.840 U O