Thornton Manufacturing Company produces a single product. The following data apply to the standard cost of materials and labor associated with making the product: Materials quantity per unit Materials price Labor quantity per unit Labor price 1 pound $ 6.50 per pound 2 hours $10.50 per hour During the year, the company made 2,100 units of product. At the end of the year, the following variances had been calculated. Materials usage variance Materials price variance Labor usage variance Labor price variance $1,495 Favorable $ 187 Unfavorable $3,675 Unfavorable $3,640 Favorable Required a. Determine the actual amount of materials used. b. Determine the actual price paid per pound for materials. (Round your answer to 2 decimal places.) c. Determine the actual labor hours used. d. Determine the actual labor price per hour. (Round your answer to 2 decimal places.) pounds per pound a. Actual quantity b. Actual price (materials) Actual labor hours d. Actual labor price per hour Drau 5 of 5 Next