Evaluate the standard price per pound

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Reference no: EM139774

A company uses 40,000 pounds of materials for which they paid $9.00 a pound. The materials price variance was $80,000 favorable. What is the standard price per pound?

1. $2.00.
2. $7.00.
3. $10.00.
4. $11.00.

Reference no: EM139774

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