Standard Costing For a batch of $100$ units of a popular lumber package, create a standard cost card with the following fictitious costs:Material cost: $$40$ per unitLabor cost: $$10$ per unit $(2$ hours of work at $$5$ per hour$)$Overhead $($allocated based on machine hours, with the lumber package requiring $10$ machine hours at a rate determined in Question $2)$ Calculate the total standard cost for the batch.

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