Operating at a normal level of 30,000 direct labour-hours, Lasser Company produces 12,000 units of product each year. The direct labour wage rate is $15 per hour. Two and one-half yards of direct materials go into each unit of product; the material costs $17.20 per yard. Variable manufacturing overhead should be $2 per standard direct labour-hour. Fixed manufacturing overhead should be $168,000 per period. Required: 1. Using 30,000 direct labour-hours as the denominator activity, compute the predetermined overhead rate and break it down into variable and fixed elements. (Round your answers to 2 decimal places.) Predetermined overhead rate $ 7.60 per DLH 2.00 per DLH Variable element $ Fixed element $ 5.60 per DLH 2. Complete the standard cost card below for one unit of product: (Round your answers to 2 decimal places.) Direct materials, 2.5 yards at $17.20 per yard $ 43.00 Direct labour, DLHs per DLH DLHS per DLH Variable manufacturing overhead, Fixed manufacturing overhead, DLHS per DLH Total standard cost per unit $ 43.00