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

Actual quantity of direct materials purchased	40,000	pounds
Standard price of direct materials	$5	per pound
Material price variance	$8,000	unfavorable
Material quantity variance	$3,500	favorable

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

$4.77

$5.00

$5.20

$5.23