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+ Ch 11 - Homework -14 Question 5 of 6 View Policies Current Attempt in Progress Waterway Company uses a standard cost accounting system. In 2022, the company produced 28,500 units Each unit took several pounds of direct materials and 1.6 standard hours of direct laborata standard hourly rate of $11.00. Normal capacity was 49,800 direct labor hours. During the year, 131.700 pounds of raw materials were purchased at $0.90 per pound. All materials purchased were used during the year. (a) If the materials price variance was $5,268 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.) Standard materials price per pound $ eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above (c) The parts of this question must be completed in order. This part will be available when you complete the part above Idi