The following information summarizes the standard cost for producing one mett tennis racket frame at Spauiding Industries in addition, the variances for one month's production are given. Assume that an inventory accounts have zero balances at the beginning of the month Standard Standard Cost Per Monthly Unit Costo Materials $4.00 $11,600 Direct Labor 2 hrs. $3.00 17.400 Factory overhead: Variable 1.90 5,510 Fixed 6.00 17.400 $17.90 $51, 910 Variances Material price Material quantity Labor rate Labor efficiency 387.00 unfavorable 400.00 unfavorable 630.00 favorable 2,550.00 untavorable What was the actual price paid for the direct material during the month, assuming all materials purchased were put into production? Multiple Choice $4.00. $4.13 $4.38. O $4.19