John's Coffee Corporation owns a coffee shop chain and a coffee bean supplier, which sells exclusively to the coffee shop division since it has no other viable buyers. Following are manufacturing costs for the supplier division when production of coffee beans was 100,000 pounds: Sales $300,000 Variable Costs $180,000 Contribution Margin $120,000 Fixed Costs $50,000 Operating Income $70,000 What should the minimum transfer price be to sell coffee beans to the coffee shop division? Select answer from the options below $1.80 per pound $0.70 per pound $1.20 per pound $3.00 per pound