Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.80 pounds $ 2.50 per pound $ 19.50 Direct labor 0.30 hours $ 6.00 per hour $ 1.80 During the most recent month, the following activity was recorded: Nine thousand three hundred pounds of material were purchased at a cost of $2.20 per pound. All of the material purchased was used to produce 1000 units of Zoom. 200 hours of direct labor time were recorded at a total labor cost of 1400.