The following information describes production activities of Mercer Manufacturing for the year: Actual direct materials used Actual direct labor used Actual units produced 18,000 lbs. at $4.15 per lb. 5,555 hours for a total of $106,656 30,060 Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.10 per pound and 10 minutes of direct labor at $20.20 per hour