Topaz Company makes one product and has set the following standards for materials and labor:

	Direct Materials	Direct Labor
Standard quantity or hours per unit	? pounds		2.50	hours
Standard price or rate	? per pound	$	8.50	per hour
Standard cost per unit	?	$	21.25

During the past month, the company purchased 6,800 pounds of direct materials at a cost of $19,040. All of this material was used in the production of 1,200 units of product. Direct labor cost totaled $22,500 for the month. The following variances have been computed:

Materials quantity variance	$	1,220	U
Total materials spending variance	$	480	F
Labor efficiency variance	$	4,250	F

Required:

1.	For direct materials:

a.	Compute the standard price per pound for materials. (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Standard price

$

b.	Compute the standard quantity allowed for materials for the month