Colines budget shows a cost formula for direct labor of $2.61 per ounce of product. The companys performance report for last year showed a $6,840 unfavorable spending variance for direct labor. During that period, 17,100 ounces of product were produced. The budgeted activity was 16,700 ounces. The actual cost per ounce for direct labor must have been closest to:

$3.01

$3.41

$3.49

$2.61