The Geurtz Company uses standard costing. The company makes and sells a single product called a Roff. The following data are for the month of August: Actual cost of direct material purchased and used: $85,400 Material price variance: $12,200 unfavorable Total materials variance: $26,000 unfavorable Standard cost per pound of material: $3 Standard cost per direct labor-hour: $5 Actual direct labor-hours: 9,100 hours .Labor efficiency variance: $4,000 favorable Standard number of direct labor-hours per unit of Roff: 3 hours Total labor variance: $550 unfavorable The actual material cost per pound was: (Round your final answer to 2 decimal places.) O $6.60 O $4.50 O $3.00 O $3.50