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The following materials standards have been established for a particular product: Standard quantity per unit...

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Accounting

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
Actual cost of materials purchased
Actual materials used 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
$5,516
$7,500
$7,900
$13,450
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