The following data relating to direct materials cost for November of the current year are take from the records of Tot Toys Inc., a manufacturer of plastic toys:
Quantity of direct materials used .......... 2,000 lbs,
Actual unit price of direct materials ...... $2040 per lb,
Units of finished product manufactured ........ 460 units
Standard direct materials per unit of finished product .. 4 lbs
Direct materials quantity variance-unfavorable ...... $ 500
Direct materials price variance-favorable ........ $1,450
Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process at either the beginning or the end of the month.