Standard Product Cost Atlas Furniture Company manufactures designer home furniture. Atlas uses a standard cost system. The direct labor, direct materials, and tactory overhead standards for . an unfinished dining room table are as follows: Direct labor: standard rate $19.00 per hr standard time per unit 3 hrs. Direct materials (oak): standard price $9.50 per bd. It Standard quantity 20 bd. it. Variable factory overhead: standard rate $2.80 per direct labor hr. Fixed factory overhead: standard rate $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 Using this principle. cost deviations from standards can be investigated and corrected