Problem 16-64 (Algo) Direct Materials (LO 16-5) Information about direct materials cost follows for Jennings Chemicals: Standard price per gallon Actual quantity used Standard quantity allowed for production Price variance Required: What was the actual purchase price per gallon? Note: Round your answer to 2 decimal places. Actual purchase price per gallon $ 56 4,400 gallons 4,430 gallons $ 17,600 U