Kilo Company uses a standard costing system that allows 2 pounds of direct materials for one finished unit of product. During July, the company purchased 47,000 pounds of direct materials for $280,000, and manufactured 12,700 finished units. The standard direct materials cost allowed for the units manufactured is $215,900. The performance report shows that Kilo has an unfavorable direct materials usage variance of $5,700. Also, the company records any price variance for materials at time of purchase. Kilo's standard price per pound of direct materials (SP) is: Multiple Choice $7.50. $8.50. O $10.00 $17.00. O $19.00