61) Dozen Bakery makes cupcakes and cookies. Dozen gathered the following information for the current year regarding its use of flour and butter (flour is a direct material for cupcakes and butter is a direct material for cookies):

Flour (Direct Materials)

Cupcakes Butter (Direct Materials)

Cookies

Standard quantity per batch2 lbs.3 lbs.

Standard Price (SP) per pound of sugar$2.50/lb?

Actual quantity purchased (AQP)and used per batch (pounds)?4 lbs.

Actual Price (AP) paid $3.00/lb.$5.50/lb.

Price variance$300 U$1,200 U

Quantity variance$500 F?

Flexible budget variance?$3,100 U

Number of units produced350400

What is the standard direct material price per pound for the butter in the cookies?