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:

$\backslash$table$[[,\backslash$table$[[$Standard$],[$Quantity or$],[$Hours$]],,],[,$Standard Price or Rate Standard Cost,,$],[$Direct materials,$7\mathrm{.}20$ pounds,$$2\mathrm{.}90$ per pound,$$20\mathrm{.}88$