Suver Corporation has a standard costing system. The following data are available for June:

Actual quantity of direct materials purchased		70,000	pounds
Standard price of direct materials	$	8.00	per pound
Material price variance	$	3,500	Unfavorable
Material quantity variance	$	2,500	Favorable

The actual price per pound of direct materials purchased in June was: (Round your intermediate calculations to 2 decimal places.)

Multiple Choice

• $7.93 per pound

• $8.00 per pound

• $8.05 per pound

• $8.07 per pound