QUESTION 24 A company is setting its direct materials and direct labor standards for its leading product. Direct materials cost from the supplier are 55 per square foot, net of purchase discount. Freight-in amounts to $0.40 per square foot. Basic wages of the assembly line personnel are 517 per hour. Payroll taxes are approximately 22% of wages, Benefits amount to 84 per hour. How much is the direct materials cost Standard per square foot? O $26.00 $21.00 55.00 $5.40