The performance report for Chic Pens included the following variances for direct materials: price variance, $13,425 favorable; flexible budget (total) variance, $8,425 favorable. The materials purchased and used were 17,900 lb. For the 5,300 units produced, the standards were 3 lb per unit at $2.50 per pound. Read the requirements. Requirement a. What was the actual price paid per pound? (Enter your answer to the nearest cent.) The actual price paid per pound is

The performance report for Chic Pens included the following variances for direct materials: price varance, $13,425 favorable; flexible budget (total) variance, $8,425 favorable. The materfals purchased and used were 17,900 io. For the 5,300 unts produced, the stundards were 3 ib per unit at $2,50 por pound. Bead the reauirements. Requirement a. What was the actual price paid per pound? (Enter your answer to the neavest cent) The actual proe paid per pound is Requirements a. What was the actual price paid per pound? b. What was the efficiency variance? c. What are some possible reasons the actual pounds of materials used differed from the pounds allowed per the flexible budget of units produced