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 $20.00 per he standard rate standard time per unit 3.5 hrs. Direct materials (oak): standard price standard quantity Variable factory overhead standard rate standard rate Foxed factory overhead $12.50 per bd. ft. 17 bd. it. $2.40 per direct labor hr $0.00 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 prinople of cost deviations from standards can be investigated and corrected. Using this principle