Betty's Bakery has the following standard cost sheet for one unit of its most popular cake: SQ Direct materials Direct labor 1.2 pounds 0.8 hours SP $ 1.50 per pound $12.00 per hour During the month of May, the company made 920 cakes and incurred the following actual costs. Direct materials purchased and used (1,380 pounds) $1,794 Direct labor (980 hours) $11,270