general industry inc develop standard cost for direct materials and direct labor in 2013 GII estimated the following standard cost for one of the major products the thirty gallon heavy duty plastic container budgeted quantity budgeted price direct materials .2 pounds 20 dollars per pound direct labor .6 hours $18 per hour during July G.I. produced and sold 3000 containers using 700 pounds of direct materials I didnt average cost per pound of $16 and 1825 direct manufacturing labor hours at the average wage of $18.30 per hour