Problem 15-4 Riverbed Company uses a standard cost accounting system. In 2017, the company produced 28,000 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $11.00. Normal capacity was 49,500 direct labor hours. During the year, 131,200 pounds of raw materials were purchased at $0.94 per pound. All materials purchased were used during the year. If the materials price variance was $1,312 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.) Standard materials price per pound $ Link to Text Link to Text If the materials quantity variance was $15,580 unfavorable, what was the standard materials quantity per unit? (Round answer to 1 decimal place, e.g. 1.5.) Standard materials quantity per unit Link to Text Link to Text What were the standard hours allowed for the units produced? Standard hours allowed Link to Text Link to Text If the labor quantity variance was $7,700 unfavorable, what were the actual direct labor hours worked? Actual hours worked Link to Text Link to Text If the labor price variance was $4,550 favorable, what was the actual rate per hour? (Round answer to 2 decimal places, e.g. 2.75.) Actual rate per hour $ Link to Text Link to Text If total budgeted manufacturing overhead was $341,550 at normal capacity, what was the predetermined overhead rate? (Round answer to 2 decimal places, e.g. 2.75.) Predetermined overhead rate $ Link to Text Link to Text What was the standard cost per unit of product? (Round answer to 2 decimal places, e.g. 2.75.) Standard cost per unit $ Link to Text Link to Text How much overhead was applied to production during the year? Overhead appli