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 $ 7.75 3,350 pounds 3,250 pounds 830 $ 985 1,130 4,520 pounds The actual purchase price per pound of direct materials (rounded to two decimal places) was Multiple Choice O $742. O $746. O $7.79 O $8.04. $8.42