Do It! Review 23-1

Larkin Company accumulated the following standard cost data concerning product I-Tal.

Direct materials per unit:2.10pounds at $6.36per poundDirect labor per unit:5.26hours at $10per hourManufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $19.00 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 $______