Use the information provided to calculate standard costs: To make one switch it takes 18 feet of plastic-coated copper wire and 0.5 pounds of plastic material. The plastic material can usually be purchased for $18 per pound, and the wire costs $2.98 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.8 hours. These workers are paid $27 per hour. The second type of labor is finishing, which takes 2 hours. These workers are paid \$27 per hour. Overhead is applied using labor hours. The variable overhead rate is $15.31 per labor hour. The fixed overhead rate is $14.96 per hour. What is the total standard cost for direct materials? Round to the nearest penny, two decimal places. Use the information provided to calculate standard costs: To make one switch it takes 18 feet of plastic-coated copper wire and 0.2 pounds of plastic material. The plastic material can usually be purchased for $16 per pound, and the wire costs $2.19 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.3 hours. These workers are paid $27 per hour. The second type of labor is finishing, which takes 2.1 hours. These workers are paid \$29 per hour. Overhead is applied using labor hours. The variable overhead rate is $15.78 per labor hour. The fixed overhead rate is $15.49 per hour. What is the total standard cost for direct labor? Round to the nearest penny, two decimal places