Standard Direct Materials Cost per Unit Crazy Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (3,500 bars) are as follows: Ingredient Quantity Price Cocoa 540 lbs. $0.30 per ib. Sugar 150 lbs. $0.60 per lb. Milk 120 gal. $1.40 per gal Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent. X per bar Standard Product Cost Atlas Furniture Company manufactures designer home furniture. Atlas uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $26.00 per hr. standard time per unit 4 hrs. Direct materials (oak): standard price $11.50 per bd. ft. standard quantity 15 bd. ft. Variable factory overhead: standard rate $3.20 per direct labor hr. Fixed factory overhead: standard rate $0.80 per direct labor hr. a. Determine the standard cost per dining room table. If required, round your answer to two decimal places, $ per table b. A standard cost system provides Atlas Furniture Company's management a cost control tool using the principle of Using this principle cost deviations from standards can be investigated and corrected