Question 3 Larkin Company accumulated the following standard cost data concerning product I-Tal Direct materials per unit: 2.08 pounds at $4.66 per pound Direct labor per unit: 1.54 hours at $14 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $21.00 per direct labor hour Compute the standard cost of one unit of product I-Tal. (Round answer to 2 decimal places, e.g. 2.75.) Standard cost