Lopez Company uses both standards and budgets. For the year, estimated production of Product X is $500,000$ units. Total estimated cost for materials and labor are $$1,400,000$ and $$1,700,000$ respectively.

Compute the estimates for $($a$)$ a standard cost and $($b$)$ a budgeted cost. $($Round standard costs to $2$ decimal places, eg$.1\mathrm{.}25.)$

$\backslash$table$[[,$Materials,$],[($a$)$ Standard cost $$,$$$,],[($b$)$ Budgeted cost $$,$$$,]]$