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 Actual cost of materials purchased Actual materials used in production Actual output 8, 100 meters $151,065 7,700 meters 1,450 units What is the materials price variance for the month? Multiple Choice $11,915 U $8,500 U