Apple is releasing their new Apple Watch Series $8$ this autumn, and you have been tasked with determining the standard cost. What is the standard cost of each unit produced? Below is the information that you'll need. This product can be produced at a rate of $24$ per hour with a $4$ person operating team who are each paid $$20$ per hour.The cost to run the machines used is $$250$ per hour. The total material cost for each watch is $$55.$Apple anticipates spending $$4,500,000$ on a marketing campaign.This product was developed by a $4$ person engineering team across one year who each earn $$120,000$ annually.Apple is planning to produce $800,000$ units.The Apple production plant is in operation $365$ days per year for $8$ hours per day.