Standard Product Cost Cumberland Furniture Company manufactures unfinished oak furniture. Cumberland 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: $16/hr Standard time/unit: 1.8hr Direct materials (oak): Standard price: $12.50 per bd ft Standard qty: 17 bd ft Variable factory overhead: standard rate: $2.40 per direct labor hr Fixed factory overhead: Standard rate: $1.10 per direct labor hr a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. $ b. Why would Cumberland use a standard cost system