When producing 5,000 picture frames, Picture This incurred the following costs: direct materials, $12,000; direct labor, $35,100; and factory overhead, $24,300. The standards to produce one picture frame are: Cost Standard Price Standard Quantity_per Unit Standard Cost per Unit Direct materials $2.50 per sq. yd. 1.1 sq. yds. $ 2.75 Direct labor $9.50 per hr. 0.7 hr. 6.65 Factory overhead $6.60 per hr. 0.7 hr. 4.62 a. Compute the standard cost per unit. b. Determine if the cost variance for each manufacturing cost is favorable or unfavorable