Question I Tries remaining: 1 Marked out of 5.00 Flag question Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2 pounds of material P, costing $16 per pound and 0.5 hour of direct labor costing, $22 per hour. The variable overhead rate is $20 per direct labor hour, and the fixed overhead rate is $24 per direct labor hour. What is the standard product cost for product M? Direct material $ Direct labor O Variable overhead 0 Fixed overhead 0 Standard product cost per unit $ 0