Fanning Manufacturing Company produces a single product. The following data apply to the standard cost of materials and labor associated with making the product: Materials quantity per unit Materials price Labor quantity per unit Labor price 1 pound $5.40 per pound 2 hours $9.40 per hour During the year, the company made 1,880 units of product. At the end of the year, the following variances had been calculated. Materials usage variance Materials price variance Labor usage variance Labor price variance $ 648 Favorable $ 176 Unfavorable $2,256 Unfavorable $2,600 Favorable Required a. Determine the actual amount of materials used. b. Determine the actual price paid per pound for materials. (Round your answer to 2 decimal places.) c. Determine the actual labor hours used. d. Determine the actual labor price per hour. (Round your answer to 2 cimal places.) pounds per pound a. Actual quantity b. Actual price (materials) Actual labor hours d. Actual labor price C. od per hour