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$ 8.40 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.80 per pound Direct labor 5 hours at
$ 8.40 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.80 per pound Direct labor 5 hours at $7.50 per hour Actual results: Units produced 8,200 units Direct material purchased 27,200 pounds at $3.00 Direct material used 24,300 pounds at $3.00 Direct labor 41,300 hours at $7.30 $ 81,600 72,900 301,490 Assume that the company computes variances at the earliest point in time. The standard hours allowed for the work performed are
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