0 Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. $3 per lb.) Direct labor (3 hrs. $15 per hr.) $45 45 50:26 During June the company incurred the following actual costs to produce 8,400 units. Ded Direct materials (128,400 lbs. $2.80 per lb.) $359,520 Direct labor (30,100 hrs. $15.15 per hr.). 456,015 AH=Actual Hours SH Standard Hours AR=Actual Rate SR=Standard Rate AQ=Actual Quantity SQ-Standard Quantity