Standard Direct Materials Cost per Unit from Variance Data

The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys:

Quantity of direct materials used

Actual unit price of direct materials

Units of finished product manufactured

Standard direct materials per unit of finished product

Direct materials quantity variance$-$unfavorable

Direct materials price variance$-$favorable

$8,400$ lbs$.$

$$3\mathrm{.}70$ per lb$.$

$2,020$ units

$4$ lbs$.$

$$1,248$

$$1,680$

Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process at either the beginning or the end of the month. If required, round your standard cost per unit answer to two decimal places.

Product finished

Standard finished product for direct materials used

Deficiency of finished product for materials used

Standard cost for direct materials

$

$$ units

$$ units

$$ units $$ per unit