Designer Furniture Company manufactures designer home furniture. Designer Furniture uses a standard cost system. The direct labor, direct materials, and factory overhead standards for a finished dining room table are as follows:

Line Item Description Classification Value

Direct labor: standard rate $$30\mathrm{.}00$ per hr$.$

Direct labor: standard time per unit $5\mathrm{.}0$ hrs$.$

Direct materials $($oak$)$: standard price $$8\mathrm{.}00$ per bd$.$ ft$.$

Direct materials $($oak$)$: standard quantity $20$ bd$.$ ft$.$

Variable factory overhead: standard rate $$0\mathrm{.}75$ per direct labor hr$.$

Fixed factory overhead: standard rate $$1\mathrm{.}15$ per direct labor hr$.$

a$.$ Determine the standard cost per dining room table. Round to two decimal places.

fill in the blank $1$ of $1$$

per table

b$.$ A standard cost system provides the company's management a cost control tool using the principle of fill in the blank $1$ of $2$

$.$ Using this principle, fill in the blank $2$ of $2$

cost deviations from standards can be investigated and corrected.