Pitman Chemical Company manufactures and sells Goody, a product that sells for $10 per pound. The manufacturing process also yields 1 pound of a waste product, called Baddy, in the production of every 10 pounds of Goody. Disposal of the waste product costs $1 per pound. During March, the company manufactured 200,000 pounds of Goody. Total manufacturing costs were as follows:
Direct materials......... $232,000
Direct labor............ 120,000
Manufacturing overhead costs..... 60,000
Total costs........... $412,000
Determine the cost per pound of Goody.