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The Wright Company has a standard costing system. The following data are available for September: Actual quantity of direct materials purchased 30,000 pounds Standard price

The Wright Company has a standard costing system. The following data are available for September:

Actual quantity of direct materials purchased 30,000 pounds
Standard price of direct materials $5 per pound
Material price variance $3,000 unfavorable
Material quantity variance $2,000 favorable

The actual price per pound of direct materials purchased in September is: (Round your answer to 2 decimal places.)

a. $5.00

b. $5.10

c. $5.14

d. $4.86

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