The following information summarizes the standard cost for producing one metal tennis racket frame at spaulding industries. in addition, the variances for one month's production are given. assume that all inventory accounts have zero balances at the beginning of the month. standard cost per unit standard monthly costs materials $ 4.00 $ 7,200 direct labor 2 hrs. @ $2.60 5.20 9,360 factory overhead: variable 1.60 2,880 fixed 5.50 9,900 $ 16.30 $ 29,340 variances: material price 432.25 unfavorable material quantity 600.00 unfavorable labor rate 650.00 favorable labor efficiency 2,860.00 unfavorable what was the actual price paid for the direct material during the month, assuming all materials purchased were put into production?