In March, Giada at Home Products began manufacturing a new spatula that consumers were expected to flip over. The spatula was designed to be produced from composite metal and a blended plastic. Giada at Home Products made the purchased materials during March in the following transactions:

Composite Metal:

• On March 3, Giada at Home Products received 30,000 square yards of the composite metal from its supplier at a cost of $11.40 per square yard reduced by a 5.0% discount on time order.

• The metal was delivered at a cost of $3,360 under FOB Shipping Point terms.

• On March 4, Giada at Home Products incurred $13,200 of costs to treat the metal prior to its use in the production of the spatulas.

Blended Plastic:

• On March 5, Giada at Home Products received 35,000 pounds of the blended plastic from its supplier at a total cost of $27,125. The plastic was delivered at a cost of $1,050 under FOB Shipping Point terms.

Spatula Production:

Giada at Home Products reported the following data relating to spatula production during March:

• 25,000 spatulas produced
• 5,000 square yards of composite metal used
• 4,800 pounds blended plastic used

Calculate the historic cost per pound of the 35,000 pounds of the blended plastic purchased by Giada at Home Products in March according to GAAP.