Novak Manufacturing Corporation uses both standards and budgets. The compary estimates that production for the year will be 100,000 units of Product Fast. To produce these units of Product Fast, the company expects to spend $710,000 for materials and $910,000 for labor. (a) Compute the estimates for a standard cost. (Round answers to 2 decimal places, e.g. 2.17.) Materials $ perunit Labor $ perunit