The Swenson Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quantity variance 40,000 pounds $7 per pound $4,000 unfavorable $7.000 favorable The actual price per pound of direct materials purchased in June is: (Round your answer to 2 decimal places) $700 $713 $7.10 $6.87 The Fischer Corporation uses a standard costing system. The following data have been assembled for December Actual direct labor hours worked Standard direct labor rate Labor efficiency variance 5,200 hours $12 per hour $3.000 unfavorable The standard hours allowed for December's production is: 5,450 hours 0 4,700 hours 5,200 hours 4.950 hours