The following materlals standards have been established for a particular product Standard quantity per unit of output Standard price 4.4 meters $18.70 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 us ed in production Actual output 7,500 meters $147,750 7,100 meters 1,550 units What is the materials price variance for the month? Multiple Choice