Problem 10-168 The following materials standards have ... The following materials standards have been established for a particular product: Standard quantity per unit of output 4.6 pounds Standard price $12.00 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 3,500 pounds Actual cost of materials purchased $ 40,775 Actual materials used in production 2,800 pounds Actual output 540 units Required: a. What is the materials price variance for the month