Waterway's Bakery makes a variety of home-style cookies for upscale restaurants in the Atlanta metropolitan area. The company's best-selling cookie is the double chocolate almond supreme. Waterway's recipe requires 40 ounces of a commercial cookie mix. 8 ounces of milk chocolate, and 3 ounces of almonds per pound of cookies. The standard direct materials costs are $1.20 per pound of cookie mix, $8,00 per pound of milk chocolate, and $8.00 per pound of almonds. Each pound of cookies requires 2 minutes of direct labor in the mixing department and 3 minutes of direct labor in the baking department. The standard labor rates in those departments are $12.00 per direct labor hour (DLH) and $24.00 per DLH, respectively. Variable overhead is applied at a rate of $48.00 per DLH: fixed overhead is applied at a rate of $78.00 per DLH. Calculate the standard cost for a pound of Waterway's double chocolate almond supreme cookies. (Round answer to 2 decimal places, es. 3.51) Standard cost per pound $