Managerial Accounting: E7-2 Hickory Furniture Company manufactures unfinished oak

Managerial Accounting

E7-2 Standard Product Cost
Hickory Furniture Company manufactures unfinished oak furniture. Hickory 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 $18.00 per hr
standard time per unit 2.5 hrs.
Direct materials (oak): standard price $9.50 per bd. ft.
standard quantity 18 bd. ft.
Variable factory overhead: standard rate $2.80 per direct labor hr.
Fixed factory overhead: standard rate $1.20 per direct labor hr.

Determine the standard cost per dining room table.
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