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

$7.02 per pound

$8.12 per pound