0 Saved Assume that a company makes only one product, maintains no beginning or ending inventories, and uses a standard costing system. The standard cost card for that product is show Direct materials Direct labor Fixed manufacturing overhead Standard Quantity or Hours 3 pounds Standard Price or Rate $ 13.00 per pound Standard Cost $ 39.00 2 hours 2 hours $ 16.00 per hour $ 32.00 $ 8.00 per hour $ 16.00 The company purchased 22,000 pounds of direct materials from its supplier at a cost of $12.50 per pound. The company used 22.000 pounds of direct material to start and complet finished goods during the period. Its direct laborers worked 16,000 hours and were paid a total of $248,000. Based on this information, the total manufacturing cost transferred from Process to Finished Goods would be: Multiple Choice 5647,800 $667,400