During June, Danby Company's material purchases amounted to 15,600 pounds at a price of $7.60 per pound. Actual costs incurred in the production of 3,000 units were as follows: Direct labor: Direct material: 94,164 ($7.60 per pound) $322,192 ($20.80 per hour) The standards for one unit of Danby Company's product are as follows Direct Labor: Direct Material: Quantity, 5 hours per unit Rate, $20.00 per hour Quantity, 4 pounds per unit Price, $6.90 per pound