Multiple Choice Question 78 Waterway's standard quantities for 1 unit of product include 2 pounds of materials and 1.5 labor hours. The standard rates are $5 per pound and $7 per hour. The standard overhead rate is $8 per direct labor hour. The total standard cost of Waterway's product is $20.50. $32.50. $22.50. $20.00. Click if you would like to Show Work for this question: One