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: $19.00 per hr. standard rate standard time per unit 4 hrs. Direct materials (oak): standard price standard quantity standard rate standard rate $12.50 per bd. ft. 16 bd. ft. Variable factory overhead: Fixed factory overhead: a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. per table $3.20 per direct labor hr. $1.20 per direct labor hr. b. A standard cost system provides Atlas Furniture Company's management a cost control tool using the principle of corrected. Using this principle, cost deviations from standards can be investigated and