Brown Inc. 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 October show the following data: Number of units produced 10,000 Material price variance $ 8,400 Favorable Material quantity variance $ 8,000 Unfavorable Actual direct material purchased and used 18,000 pounds Direct materials standard price $ 8 per pound There were no beginning inventories of direct materials. The actual cost of direct material was: Group of answer choices $8.00 per pound $7.53 per pound $7.12 per pound $8.12 per pound