Larkin Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 3.70 pounds at $6.80 per pound Direct labor per unit 3.60 hours at $16 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $32.00 per direct labor hour Compute the standard cost of one unit of product I-Tal. (Round answer to 2 decimal places, eg. 2.75.) Standard cost S