Question 4 Bailey Corporation manufactures orange safety suits for road workers. The following information relates to the corporation's purchases and use of material for April: Material purchased Material used in production Standard material allowed for suits produced 12,000 yards 10,000 yards 10,800 yards The company's materials price variance for April was $3,000 Favorable. Its materials quantity variance for April was $5,000 Favorable. What does the company use as a standard price per yard of material for its safety suits?