Which of the following is the correct formula for the materials price variance?

Group of answer choices

(Actual price of input - Budgeted price of input) x Budgeted quantity of input

(Actual quantity of input used - Budgeted quantity of input allowed for actual output) x Budgeted price of input

(Actual price of input - Budgeted price of input) x Actual quantity of input

(Actual quantity of input used - Budgeted quantity of input allowed for actual output) x Actual price of input