Calculate the material price for February.

Majer Corporation makes a product with the following standard costs: Direct materials: Direct labor Variable overhead Standard Quantity or Hours 6.4 ounces 0.4 hours. 0.4 hours Standard Price or Rate Standard Cost Per Unit $ 19.20 $ 3.00 per ounce $13.00 per hour $5.00 per hour $ 5.20 $ 2.00 The company reported the following results concerning this product in February Originally budgeted output Actual output Actual direct labor-hours Purchases of raw materials Raw materials used in production Actual price of raw materials. Actual direct labor rate Actual variable overhead rate: 4,800 units 4,900 units 30,230 ounces 1,910 hours 32,600 ounces $ 2.90 per ounce $ 12.40 per hour $ 4.90 per hour. The company applies variable overhead on the basis of direct labor hours. The direct materials purchases variance is computed when the materials are purchased.