New Jersey Valve Company manufactured 7,900 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor Direct material purchased Direct material used 48,200 hour at $14.10 per hour 26,000 pounds at $2.60 per pound 23,400 pounds The control valve has the following standard prime costs: Direct material Direct labor Standard prime cost per unit 6 hour at $14.60 per hour 3 pounds at $2.50 per pound $ 7.50 87.60 $ 95.10