Chapter 9 GRADED Homework Question 5 (of 6) value: O. 3.00 points E9-13 Determining Actual Costs, Standard Costs, and Variances [LO 9-3, 9-4] Amber Company produces iron table and chair sets. During October, Amber's costs were as follows: $2.00 per Ib. $7.20 per hour $1.80 per lb. Actual purchase price Actual direct labor rate Standard purchase price Standard quantity for sets produced Standard direct labor hours allowed Actual quantity purchased in October Actual direct labor hours Actual quantity used in October Direct labor rate variance 940,000 lbs. 1,085,000 lbs. 970,000 lbs. 15,000 9,000 $5,200 F Required: 1. Calculate the total cost of purchases for October