The following information relates to the Hughs Co$.$

Standards for Production Per Unit:

Materials: $1lbs.$

Price per Pound: $$3\mathrm{.}00$

Labor Hours: $1\mathrm{.}5$ hours.

Hourly Rate: $$8$

In the month of May the company produced $10,000$ units. The following information represents the actual cost of production for May:

Materials: $11,000$ lbs$.$

Materials Cost Per Pound: $$2\mathrm{.}50$

Hours Worked: $14,000$

Hourly Rate: $$10$