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All American Rejects LLC has a standard costing system. The following data are available for May: Actual Quantity of Direct Materials Purchased: 14,000 pounds Standard

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All American Rejects LLC has a standard costing system. The following data are available for May: Actual Quantity of Direct Materials Purchased: 14,000 pounds Standard Price of Direct Materials: $4 per pound Material Price Variance $2,800 Favorable Material Quantity Variance $7,000 Favorable The actual price per pound of direct materials purchased in May is: a. $3.92 O b. $4.20 O c. $4.08 O d. $3.80

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