Exercise 23-22 Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (7 pounds at $2.40 per pound) Direct labor (2 hours at $12.00 per hour) During the month of April, the company manufactures 340 units and incurs the following actual costs. Direct materials purchased and used (2,420 pounds) Direct labor (710 hours) $16.80 $24.00 $t,22 $8,378