Assume the following: - The standard price per pound is $2.00. - The standard quantity of pounds allowed per unit of finished goods is 4 pounds. - The actual quantity of materials purchased and used in production is 50,000 pounds. - The materials price variance is $5,500U. - The company produced 13,000 units of finished goods during the period. The actual price per pound of direct materials is closest to: Multiple Choice $1.71. $1.61. $2.01