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: $25.00 per hr. Direct materials (oak): Variable factory overhead: Fixed factory overhead: standard rate standard time per unit 2 hrs. standard price standard quantity standard rate standard rate $10.50 per bd. ft. 17 bd. ft. $2.80 per direct labor hr. $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 o can be investigated and corrected. cost control management by exception this principle, cost deviations from standards