Larkin Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 2.88 pounds at $4.78 per pound Direct labor per unit: 1.96 hours at $13 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $26.00 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.)