Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy:

Direct materials: 7 microns per toy at $0.35 per micron

Direct labor: 1.1 hours per toy at $6.90 per hour

During July, the company produced 5,500 Maze toys. Production data for the month on the toy follow:

Direct materials: 79,000 microns were purchased at a cost of $0.32 per micron. 30,875 of these microns were still in inventory at the end of the month.

Direct labor: 6,550 direct labor-hours were worked at a cost of $47,815.