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 80 ounces of a commercial cookie mix, 7 ounces of milk chocolate, and 2 ounces of almonds per batch of cookies. The standard direct materials costs are $1.20 per pound of cookie mix, $12.00 per pound of milk chocolate, and $10.00 per pound of almonds. Each pound of cookies requires 1 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 $22.00 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 to2 decimal places, e.g. 3.51.)

Standard cost per pound

$enter the standard cost per pound in dollars rounded to 2 decimal places