I'm lost on how to calculate the standard cost. I thought the formula was actual cost-Standard but that doesn't seem to be correct. Please help find Standard cost For the columns.

Week 4 CNOW Assignment Calculator The standard cost sheet for a product is shown. Standard Cost Manufacturing Costs Standard price Standard Quantity per unit Direct materials $4.50 per pound 6.20 pounds $ 27.90 Direct labor $12.06 per hour 2.40 hours $ 28.94 Overhead $2.10 per hour 2.40 hours $ 5.04 $ 61.88 The company produced 3,000 units that required: . 19,100 pounds of material purchased at $4.35 per pound . 7,130 hours of labor at an hourly rate of $12.36 per hour . Actual overhead in the period was $15,540 Fill in the Budget Performance Report for the period. Some amounts are provided. Round your answers to the nearest dollar. However, do not round your intermediate calculations. Budget Performance Report Variance Manufacturing Costs: Actual Standard (Favorable)/ 3,000 units Costs Costs Unfavorable Direct materials $83,085 X Direct labor 88,127 86,832 1,295 Check My Work Previous Assignment Score: 80.39% All work saved. Email Instructor Save and Exit Submit Assignment for OCT 7 5