Question 17 Gunnie Inc. produces and sells dog food. Each bag contains 20 pounds of dog food. Following additional information is provided by the company: Direct materials quantity standard 20 pounds per unit Direct materials price standard $0.02 per pound Direct labor time standard 0.1 hour per unit Direct labor rate standard $11.50 per hour Variable overhead rate standard $2.50 per machine hour Fixed overhead rate standard $1.50 per machine hour Machine hour standard 0.25 hours per unit Compute the standard unit cost for each bag