The following materials standards have been established for a particular product: Standard quantity per unit of output 4.4 pounds Standard price $13.20 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 4,800 pounds Actual cost of materials purchased $62,880 Actual materials used in production 4,800 pounds Actual output 700 units The direct materials purchases variance is computed when the materials are purchased. 1) What is the materials price variance for the month?A) $6,600 U. B) $16,104 U. C) $15,982 U. D) $6,550 U 2) What is the materials price variance for the month? A) $480 F. B) $430 U. C) $430 F. D) $480 U.