Rugby Resins Company processes a base chemical into play dough. Standard costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 1,400 units of product are as follows: Standard costs 700 pounds at $7 per pound 210 direct labor hours at $12 per direcF pre-determined overhead rate is $36 per direct labor hour Direct materials Direct labor Factory overhead One unit requires 5 pound of direct materials and 15 direct labor hour. What is its standard cost? O $8.30 $5.30 $3.50 $10.70