Information concerning Johnston Company's direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured Materials purchase-price variance-favorable Budget data for the period: Units to manufacture $ 8.25 3,570 pounds 3,470 pounds 880 $ 1,035 1,180 Units of direct materials The actual purchase price per pound of direct materials was: 4,720 pounds Multiple Choice $8.54 $8.91. $8.29 $7.96 $7.92