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Can someone please explain how to figure this out? thanks Compute the standard cost for one hat, based on the following standards for each hat:

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Can someone please explain how to figure this out? thanks

Compute the standard cost for one hat, based on the following standards for each hat: Standard Material Quantity: 3/4 yard of fabric at $5.00 per yard Standard Labor: 2 hours at $5.75 per hour Factory Overhead: $3.20 per direct labor hour Round your answer to two decimal places. Total standard cost $

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