arrent Attempt in Progress Sheridan Company produces a product that requires 2.60 pounds of materials per unit. The allowance for waste and spoilage per unit is 0.50 pounds and 0.20 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $0.10 per pound, and receiving and handiling costs are $0.07 per pound. The hourly wage rate is $12 per hour, but a raise which will average $0.30 will go into effectisoon. Payroll taxes are $1.20 per hour, per hour, and employee benefits average \$5. 40 per hour standard production timets't hour per unit and the allowance for rest periods and setup is 0.20 hours and 0.10 hours, respectively. The standard direct materials quantity per unit is 2.80 poundis: 3.30 pounds. 3.10 pounds: 2.60 pounds