The following data are available with respect to Acme's standard costing system: Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quantity variance 25,000 pounds $ 8.00 per pound $ 4,000 Unfavorable $ 6,500 Favorable What was the actual price per pound of direct materials purchased? Multiple Choice $8.00 per pound $816 per pound $779 per pound $8.21 per pound Standard Quantity or Hours 7.2 ounces 3.9 hours 0.9 hours Direct materials Direct labor Variable overhead Standard Cost Per Unit $14.40 $14.40 $ 4.50 Standard Price on Rate $ 2.00 per ounce $ 16.00 per hour S 5.00 per hour Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 2,600 units 2,200 units 2e,408 ounces 21,500 ounces 5,100 hours $ 42,000 $ 12,600 $ 3,300 Compute the materials price variance where the company applies variable overhead on the basis of direct labor-hours. Multiple Choice $1.935 F O S1000F OS.000 $1,936 0