You are tasked with finding a standard cost for a new shirt for Nike Nike plans to produce 1,000,000 of these shirts. It takes 3.5 sq ft of fabric, 2 yds of thread, 2 sq in of labeling, and one logo to to produce one shirt. There was also a design team of 3 members that each put in 50 days to design the shirt (Assume their salarydistribution is based on design days/Total days per year). These shirts can be assembled by 4 people Type Cost Unit Materials Fabrics 0.40 per sq ft Thread $ 0.05 per yard Labels 0.30 per sq in Logo S 1.00 per logo Design Team (3 members) $ S 65,000.00 annual salary per person Direct Labor S 20.00 per hour Lebron's Endorsement S 100,000.00 flat rate Running Machines 800.00 per hour Shipping $ 10,000.00 per truck S What is the standard cost for one shirt based on the spreadsheet? Based on the Spreadsheet: What is the total cost of materials for one shirt