Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used Actual unit price of direct materials. Units of finished product manufactured Standard direct materials per unit of finished product. Direct materials quantity variance-unfavorable Direct materials price variance-favorable 6,400 lbs. $3.00 per lb. 1,540 units 4 lbs. $744 $640 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. If required, round your standard cost per unit answer to two decimal places. Product finished Standard finished product for direct materials used Deficiency of finished product for materials used Standard cost for direct materials: units units units per unit