JagKing uses a standard costing system in the manufacture of its single product. The 35,000 units of raw material purchased and used cost $105,000. Two units of raw material are required to produce one unit of final product. In November, the company produced 10,000 units of product. The flexible budget amount for materials recorded in WIP was $60,000. JagKing's standard price for one unit of material is: $5.00 $2.50 $6.00 $3.00