A Computer Chip Is Purchased to Be Used in the Manufacture

A computer chip is purchased to be used in the manufacture of a radio. The standard price of the computer chip is $50.00. During the month of January, 2,240 computer chips were purchased and used. The materials price variance was $5,600 unfavourable. The standard number of computer chips allowed for the actual number of radios manufactured during the period was 3,100 chips. What was the actual purchase price of each computer chip?

A) $47.50 per computer chip
B) $49.82 per computer chip
C) $50.18 per computer chip
D) $52.50 per computer chip