Diamond Company produces a single product. The company has set the following standards for materials and labor: Standard quantity or Standard price hours per unit or rate per pound Direct materials pounds per unit Direct labor 2.0 hours per unit $13 per hour During the past month, the company purchased 13,100 pounds of direct materials at a cost of $41,265. All of this material was used in the production of 2,500 units of product. Direct labor cost totaled $66,720 for the month. The following variances have been computed: 2,070 U Materials quantity variance 1,860 F Total materials variance 2,600 F Labor efficiency variance Required 1. For direct materials: a. Compute the standard price per pound of materials. (Round your intermediate calculations and final answer to 2 decimal places. Omit the sign in your response.) Standard price per pound b. Compute the standard quantity allowed for materials for the month's production. (Round your intermediate calculations to 2 decimal places.) Standard quantity pounds c. Compute the standard quantity of materials allowed per unit of product. (Round your intermediate calculations to 2 decimal places.) Standard quantity pounds per unit