Porter Manufacturing Company uses a standard cost accounting system. In 2011, the company produced 28,000 units. Each unit took several pounds of direct materials and 2 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,000 direct labor hours. During the year, 54,101 pounds of raw materials were purchased at $1.6 per pound. All materials purchased were used during the year.

If the materials price variance was $5,916 unfavorable, what was the standard materials price per pound? Round your answer to 2 decimals