2. Budd}.r Industries, Inc., (BII) developed the following standard costs for direct material and direct labor for one of their major products, the Ill-gallon plastic container. Standard Standard quantity price we pounds $30 p... pound 0.05 hours $15 perhour During August, BII produced and sold 10,000 containers using 980 pounds of direct materials at an average cost per pound of $32 and 500 direct labor hours at an average wage of $15.25 per hour. August's direct material cost variance was