3 003357 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 Standard Price or Rate Standard Cost $ 13.00 per pound Direct materials Direct labor Fixed manufacturing overhead Standard Quantity or Hours 3 pounds 2 hours 2 hours $ 16.00 per hour $ 8.00 per hour $ 39.00 $32.00 $ 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 com 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 increase recorded in the Work related to fixed manufacturing overhead would be: Multiple Choice $128,000 $122,000