Precilla Company uses a standard costing system that allows 2 pounds of direct materials for one finished unit of product. During July, the company purchased 44,000 pounds of direct materials for $250,000, and manufactured 12,400 finished units. The standard direct materials cost allowed for the units manufactured is $173,600. The performance report shows that Pricilla has an unfavorable direct materials usage variance of $5,400. Also, the company records any price variance for materials at time of purchase. Precilla's standard price per pound of direct materials (SP), to two decimal places, is: Multiple Choice O $6.00 O $16.00 0 $7.00 0 $8.00 $14.00