Standard Product Cost

Sana Rosa Furniture Company manufactures designer 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:

$\backslash$table$[[$Direct labor:,standard rate,$$26\mathrm{.}00$ per hr$.],[,$standard time per unit,$2\mathrm{.}00hrs.],[$Direct materials $($oak$)$:$,$standard price,$$8\mathrm{.}50$ per bd$.$ ft$.],[,$standard quantity,$20bd.$ ft$.],[$Variable factory overhead:,standard rate,$$3\mathrm{.}20$ per direct labor hr$.],[$Fixed factory overhead:,standard rate,$$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.

$ per dining room table

b$.$ A standard cost system provides Rosa Furniture management a cost control tool using the principle of Using this principle, cost deviations from standards can be investigated and corrected.