Groovy Bottles Products is a manufacturer of large flower pots for urban settings. The company has these standards: Click the icon to view the standards.) Requirements 1. Compute the standard cost of each of the following inputs per pot: direct materials, direct labor, variable manufacturing overhead, and fixed manufacturing overhead. 2. Determine the standard cost of one flower pot Standard Guantity Standard price - Standard cost of input Direct materials 11.20 pound XS 4.25 por pound = $ 47.60 Direct labor 1.00 hour * S 15.75 per hour - $ 15.75 Variable manufacturing overhead 1.00 hour XS 3.15 per hour = $ 3.15 Forced manufacturing overhead 1.00 hour XS .15 per hour 6.15 Requirement 2. Determine the standard cost of one flower pot. (Enter your answer to the nearest cent) The standard cost of one flower pot is $ Data Table 1 Direct materials (resin)......... .......... 11.2 pounds per pot, at a cost of $4.25 per pound Direct labor .. 1.0 hour at a cost of $15.75 per hour Standard variable manufacturing overhead rate .... $3.15 per direct labor hour Predetermined fixed manufacturing overhead rate .. $6.15 per direct labor hour Groovy Bottles allocates variable and fixed manufacturing overhead to production based on standard direct labor hours