Hallmark Rings produces class rings. Its best-selling model has a direct materials standard of 8 grams of a special alloy per ring. This special aloy has a standard cost of: $66.10 per gram. In the past month, the company purchased 8,900 grams of this alloy at a total cost of $582,950. A total of 8,300 grams were used last month to produce 1,000 rings. Read the Requirement 1. What is the actual cost per gram of the special alloy that Halimark Rings purchased last month? (Round your answor to the nearest cent.) The actual cost per gram of the special alloy that Halmark Rings purchased last month is Hallmark Rings produces class rings. Its best-selling mone company purchased 8,900 grams of this alloy at a total cost of $582,950. A total of 8 , $66.10 per gram. In the past month, the com 1,000 rings. Read the requigements. Requirements Requiren The actu: 1. What is the actual cost per gram of the special alloy that Hallmark Rings purchased last month? 2. What is the direct material price variance? 3. What is the direct material quantity variance? 4. How might the direct material price variance for the company last month be causing the direct material quantity variance