Atlas Furniture Company manufactures designer home furniture. Atlas uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $24.00 per hr. standard time per unit 4 hrs. Direct materials (oak): standard price $12.00 per bd. ft. standard quantity 17 bd. ft. Variable factory overhead: standard rate $2.80 per direct labor hr. Fixed factory overhead: standard rate $0.80 per direct labor hr. a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. $ per table Using this b. A standard cost system provides Atlas Furniture Company's management a cost control tool using the principle of management by exception principle, major cost deviations from standards can be investigated and corrected