Coronado's Bakery makes a variety of home-style cookies for upscale restaurants in the Atlanta metropolitan area. The company's best-selling cookie is the double chocolate almond supreme. Coronado's recipe requires 40 ounces of a commercial cookie mix, 6ounces of milk chocolate, and 6 ounces of almonds per pound of cookies. The standard direct materials costs are $1.20 per pound of cookie mix, $4.00 per pound of milk chocolate, and $8.00 per pound of almonds. Each pound of cookies requires 2 minutes of direct labor in the mixing department and 4 minutes of direct labor in the baking department. The standard labor rates in those departments are $12.00 per direct labor hour (DLH) and $18.00 per DLH, respectively. Variable overhead is applied at a rate of $30.00 per DLH; fixed overhead is applied at a rate of $66.00 per DLH. Calculate the standard cost for a pound of Coronado's double chocolate almond supreme cookies. (Round answer to 2 decimal places, e.g. 3.51.)

Standard cost per pound