Bettys Bakery has the following standard cost sheet for one unit of its most popular cake: SQ SP Direct materials 1.2 pounds $ 1.50 per pound Direct labor 0.8 hours $ 12.00 per hour During the month of May, the company made 840 cakes and incurred the following actual costs. Direct materials purchased and used (1,220 pounds) $1,586 Direct labor (900 hours) $10,350