Given the following standard cost information:

Direct Material - 2 pounds at $5 per pound per widget Direct Labor - 5 hours at $10 per hour per widget Total Budgeted Variable Manufacuturing Overhead - $50,000 Total Budgeted Fixed Manufacturing Overhead - $100,000 Manufacturing overhead is applied based on direct labor hours. The company's normal capacity is 25,000 widgets. What is the standard cost of producing one widget?