Schmidt Machinery Company (Exhibit 14.5) used 3,800 pounds of aluminum in June to manufacture 940 units. The company paid $29.40 per pound during the month to purchase aluminum. On June 1, the company had 59 pounds of aluminum on hand. At the end of June, the company had only 39 pounds of aluminum in its warehouse. Schmidt used 5,000 direct labor-hours in June, at an average cost of $42.40 per hour.