Standard Direct Materials Cost Per Unit from Variance Data The following data relating to direct materials cost for August of the current year are taken from the records of Happy Tots Inc., a manufacturer of plastic toys: Quantity of direct materials used 3,800 lbs. 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 $3.60 per lb. 910 units units 4 lbs. $608 $760 Determine the standard direct materials cost per unit of finished product, assuming that there was no work-in-process inventory at either the beginning or the end of the month. Round your answer to the nearest cent