Question 1 of 11 View Policies -/0.5 ! Current Attempt in Progress Lopez Company uses both standards and budgets. For the year, estimated production of Product X is 598,000 units. Total estimated cost for materials and labor are $1,554,800 and $1.913,600. Compute the estimates for (a) a standard cost and (b) a budgeted cost. (Round standard costs to 2 decimal places, eg. 1.25) (a) Standard cost (b) Budgeted cost $ Save for Later Materials S n Labor Attempts: 0 of 5 used Submit Answer