Larkin Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 3.00 pounds at $4.50 per pound Direct labor per unit: 8.60 hours at $15 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $22.50 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 $ 165.90