5. A manufacturing company reports the following standard cost information for one of its products: Direct Materials 5 lbs. @ $12 per lb. Direct Labor 2 DLH @ $20 per hour Use the above standard cost information to answer the following. For items a-d assume one unit of product: a. What is the standard price for DM (SP)? b. What is the standard quantity for DM (SQ)? c. What are the standard hours for DL (SH)? d. What is the standard rate for DL (SR)? e. What would be the total standard direct materials cost if the company produced 2,000 units? f. What would be the total standard direct labor cost if the company produced 2,000 units