Refrain, Inc.s output for the current period is 16,000 units. The standard price per pound is $25.00 and the standard quantity is 0.2 pounds per unit of output. The production manager noted an $8,000 unfavorable direct material quantity variance and a $4,480 unfavorable DM cost variance for the period. What is the actual price per pound for the period (rounded to the nearest two decimal places)?

Group of answer choices

$26.56

$26.27

$24.00

$26.00

$23.44