Collegiate Rings produces class rings Its best-selling model has a direct materials standard of 10 grams of a special alloy per ring. This special alloy has a standard cost of $64.00 per gram. In the past month, the company purchased 10,800 grams of this alloy at a total cost of $685,800. A total of 10,300 grams were used last month to produce 1,000 rings