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. Direct materials (oak): standard time per unit standard price 3 hrs. $8.00 per bd. ft. standard quantity 20 bd. ft. Variable factory overhead: 1 Fixed factory overhead: standard rate standard rate $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 of principle, cost deviations from standards can be investigated and corrected, Using this