7 11 pts Your Company makes a single product. Only one kind of direct material is used to make this product. The company uses a standard cost system. The company's cost records for June show the following data: Number of units produced............... Material price variance.. 10,000 $9,800 Unfavorable Material quantity variance........ $8,000 --Favorable Actual direct material used............ 21,000 --pounds Direct materials standard. price...... $8 --per pound What is the actual price per pound? $8.47 $7.62 $7.53 $8.38