Current Attempt in Progress Waterway Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 3.7 pounds at $6.80 per pound Direct labor per unit: 3.6 hours at $16.00 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $32.00 per direct labor hour Compute the standard cost of one unit of product I-Tal. (Round answer to 2 decimal places, e.g. 2.75.) Standard cost $ Per Unit