Gibson Corp. produces and sells a single product.

Standards have been established for the product as follows:

$\backslash$table$[[$Direct Materials per unit,$8$ pounds @$,$$$,5\mathrm{.}00$ per pound$],[$Direct Labor per unit,$2$ hours @$,$$$,10\mathrm{.}00$ per hour$]]$

Actual cost and usage figures for the past month follow:

$\backslash$table$[[$Units produced,$1,500],[$Direct materials used,$5,400$ pounds$],[$Direct materials purchased,$6,000$ pounds$],[\backslash$table$[[$Cost of direct materials$],[$purchased$]],$$$,18,500$