Exercise 10-24 Computing Standard Direct-Material Cost (LO 10-2) Seneca Hardwoods produces handcrafted jewelry boxes. A standard-size box requires 8 board feet of hardwood in the finished product. In addition, 2.0 board feet of scrap lumber is normally left from the production of one box. Hardwood costs $10.00 per board foot, plus $7.50 in transportation charges per board foot. Required: Compute the standard direct-material cost of a jewelry box. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Standard direct-material cost