Novak inc inanufactures one product called tybos. The comparw uses a standard cost system and sells each tybo for $8 At the start of monthly production, Novak estim sted 9,610 tyoos would be prodiced in Merch. Nowak has established the following materlar and iabor standards to produce one tybo: Durins March 2022, the following activity was recorded by the companyresating to the producton of tyoce: 1. The complivp produck 9,370 units diring the month. 2. A total of 24.300 poundi of materials were purchased at a cost of $66.825 3. A total of 24,300 pounds of materiab were used in production. 4. 5,300 hours of labor were incurred durine the month at a total wase cost of $58300