HEID Save & Exit Submi Bailey Corporation manufactures orange safety suits for road workers. The following information relates to the corporation's purchases and use of material for April Material purchased Material used in production Standard material allowed for suits produced 12,000 yards 10,000 yards 10,800 yards The company's materials price variance for April was $3,000 Favorable. Its materials quantity variance for April was $5,000 Favorable. What does the company use as a standard price per yard of material for its safety suits? Multiple Choice $6.50 per yord 5625 per yord