Exercise 23-3 ?Your answer is incorrect. Try again. Stefani Company has gathered the following information about its product. Direct materlals: Each unit of product contains 4.20 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.80 pounds. Materials cost $2 per pound, but Stefani always takes the 3.00% cash discount all of its suppliers offer. Freight costs average $0.40 per pound. Direct labor. Each unit requires 1.70 hours of labor. Setup, cleanup, and downtime average 0.10 hours per unit. The average hourly pay rate of Stefani's employees is $11.60. Payroll taxes and fringe benefits are an additional $2.50 per hour Manufacturing overhead. Overhead is applied at a rate of $4.70 per direct labor hour Compute Stefani's total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.) Total standard cost per unt 42.44