8. Fickle Factory Ltd produces unique large ceramic frogs. The accountant has collected the following information regarding standard costs. Production input Direct materials Standard cost 2 kilos of raw material Direct labour Each kilo = $5 1 hour Direct labour is charged at $10 per hour Variable overhead $2 per direct labour hour Fixed overhead $4 per frog Total fixed overhead for the year is estimated to be $80 000. The selling price for each frog is $45. Calculate the standard cost for one frog. a. $24 b. $22 *c. $26 d. $20 3