Pharoah Company is planning to produce 2,400 units of product in 2022 . Each unit requires 2.0 pounds of materials at $7.8 per pound and a half-hour of labor at $12 per hour. The overhead rate is 40% of direct labor. (a) Compute the budgeted amounts for 2022 for direct materials to be used, direct labor, and applied overhead. Direct materials $ Direct labor $ Overhead $ (b) Compute the standard cost of one unit of product. (Round answer to 2 decimal places, e.g. 2.75.) Standard cost $ Per Unit