Your Company makes a single product. Only one kind of direct material is used to make this product. The company uses a standard cost system. The company's cost records for June show the following data: Number of units produced............. Material price variance...... Material quantity variance....... Actual direct material used............ Direct materials standard price....... What is the actual price per pound? 10,000 $8,000 Favorable $9,800 Unfavorable 21,000 pounds $8 per pound $7.62 $7.53 $8.38 $8.47