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: Direct materials (ook): Variable factory overhead: Fixed factory overhead: standard rate standard time per unit. standard price standard quantity standard rate standard rate $16.00 per hr. 2 hrs. $10.50 per bd. ft. 18 bd. ft. $3.20 per direct labor hr. $1.20 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 principle, cost deviations from standards can be investigated and corrected. Using this