What is the materials price variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.)

The following materials standards have been established for a particular product Standard quantity per unit of output 4.6 grams $12.00 per grams Standard price The following data pertain to operations concerning the product for the last month: Actual materials purchased 3,500 grams 40,775 Actual cost of materials purchased Actual materials used in production 2,800 grams Actual output 540 units The direct materials purchases variance is computed when the materials are purchased Required a. What is the materials price variance for the month? (Input the amount as a positive value. Leave no cells blank be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.) Answer is complete but not entirely correct 980X U Materials price variance