Waterway Enterprises purchased 50,000 gallons of direct materials during the year at a price of $2.00 per gallon. Waterways direct materials price variance was $5,000 Favorable. Calculate the standard price per gallon of direct materials. (Round answer to 2 decimal places, e.g. 15.25.) Standard price $enter the standard price in dollars per gallon rounded to 2 decimal places /gal