The managerial accountant at Rainy Day Umbrella Company needs to calculate the direct material cost per umbrella that is manufactured. The company produced 35,000 umbrellas in the fiscal year with a direct material total cost of $760,000. Required Compute the direct material cost per umbrella. O $32.50 per umbrella $18.50 per umbrella O $21.71 per umbrella O $23.60 per umbrella O $35.46 per umbrella