Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials $6\mathrm{.}10$ pounds $$2\mathrm{.}50$ per pound $$15\mathrm{.}25$ Direct labor $0\mathrm{.}50$ hours $$9\mathrm{.}50$ per hour $ $4\mathrm{.}75$ During the most recent month, the following activity was recorded: Eleven thousand eight hundred pounds of material were purchased at a cost of $$2\mathrm{.}40$ per pound. The company produced only $1,180$ units, using $10,620$ pounds of material. $($The rest of the material purchased remained in raw materials inventory.$)690$ hours of direct labor time were