Rosie's Bakery makes cupcakes and cookies. Rosie's Bakery gathered the following information for the current year regarding its use of flour and butter (flour is a direct material for cupcakes and butter is a direct material for cookies): Flour (Direct Materials) Butter (Direct Materials) Cupcakes Cookies 4 bs. 2 lbs. Standard quantity per batch Standard Price (SP) per pound $0.20/lb. Actual quantity purchased (AQP) and used per batch (pounds) 71 4 lbs. Actual Price (AP) paid 0.50/lb. $2.50/lb. Price variance $90 U $1400 U Quantity variance $820 F Flexible budget variance 71 $3200 U Number of units produced 440 500 What is the standard direct material price per pound for the butter in the cookies? O $2.50/lb. O $2.80/lb. O $1.80/lb. ?$6.40/lb