The following materials standards have been established for a particular product: Standard quantity per unit of output 4.4 meters Standard price $ 18.70 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,500 meters Actual cost of materials purchased $ 147,750 Actual materials used in production 7,100 meters Actual output 1,550 units What is the materials price variance for the month?

Multiple Choice

• $7,900 U

• $5,516 U

• $7,500 U

• $13,450 U