Current Attempt in Progress Kansas Company uses a standard cost accounting system. In 2020, the company produced 28,500 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct laborata standard hourly rate of $11.00. Normal capacity was 49,800 direct labor hours. During the year, 131,700 pounds of raw materials were purchased at $0.90 per pound. All materials purchased were used during the year, (a) If the materials price variance was $5.268 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, eg. 2.75.) S Standard materials price per pound Attempts: 0 of 1 used Submit STE