TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Standard Quantity Standard Price Standard Cost Direct Materials 8 pounds $ 3.10 per pound $ 24.80 Direct Labor 0.25 hour $ 10.60 per hour 2.65 $ 27.45 During November, TaskMaster purchased 166,500 pounds of direct materials at a total cost of $499,500. The total factory wages for Nove