Information concerning Johnston Co.'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 Units of direct materials $ 7.85 3,400 pounds 3,300 pounds 840 $ 995 1,140 4,560 pounds The actual purchase price per pound of direct materials (rounded to two decimal places) was: The actual purchase price per pound of direct materials (rounded to two decimal places) was: Multiple Choice $7.56 $8.14 $7.89 $8.52 $7.52