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): Variable factory overhead: standard price standard quantity standard rate standard rate $11.00 per bd. ft. 16 bd. ft. $2.80 per direct labor hr. $0.80 per direct labor hr. Fixed factory overhead: 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 standards can be investigated and corrected. Using this principle, cost deviations from cost control management by exception