Problem 23-4 Kansas Company uses a standard cost accounting system. In 2017, the company produced 27,600 units. Each unit took several pounds of direct matenals and 1.6 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,200 direct labor hours. During the year, 131,70O pounds of raw matarials ware purchased at $0.91 per pound. All materials purchased ware used during the yaar, A (Part Level Submission) the materials pnce variance was $5,268 favorable, what was the standard materials price per pound? (Round answer to 2 dec nal places, e. Standard materials price per pound Click if you would like to Show Work for this question: Open Show work 2.75.)