Standard Product Cost

Sana Rosa Company manufactures unfinished home furniture. Sana Rosa 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 $$23\mathrm{.}00$ per hr$.$

standard time per unit $3$ hrs$.$

Direct materials $($oak$)$: standard price $$10\mathrm{.}50$ per bd$.$ ft$.$

standard quantity $16$ bd$.$ ft$.$

Variable factory overhead: standard rate $$2\mathrm{.}40$ per direct labor hr$.$

Fixed factory overhead: standard rate $$0\mathrm{.}80$ per direct labor hr$.$

a$.$ Determine the standard cost per dining room table. If required, round your answer to two decimal places.

$

fill in the blank $1$

per table

b$.$ A standard cost system provides Sana Rosa management a cost control tool using the principle of

$.$ Using this principle,

cost deviations from standards can be investigated and corrected.