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A company has determined the following standards for production of its dining tables: Square feet of oak per table: 8 Price per square foot of

A company has determined the following standards for production of its dining tables:

Square feet of oak per table: 8

Price per square foot of oak: 4.25

Number of screws per table: 30

Price per screw: 0.03

The company expects a 20% increase in the cost of oak and a 5% decrease in the cost of screws. What is the new standard cost per table?

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