M8 (2) **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:- **Direct labor:** - Standard rate: $21.00 per hr. - Standard time per unit: 3.50 hrs.- **Direct materials (oak):** - Standard price: $10.50 per bd. ft. - Standard quantity: 19 bd. ft.- **Variable factory overhead:** - Standard rate: $2.80 per direct labor hr.- **Fixed factory overhead:** - Standard rate: $0.80 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 tableb. A standard cost system provides Rosa Furniture management a cost control tool using the principle of **management by exception**. ✔️ Using this principle, **major** ✔️ cost deviations from standards can be investigated and corrected.

Standard cost is the cost estimated by the entity with respect to the material, labor and overhead.…

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: standard rate standard time per unit standard price standard quantity Variable factory overhead: standard rate Fixed factory overhead: standard rate a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. per dining room table Direct labor: Direct materials (oak): $21.00 per hr. 3.50 hrs. $10.50 per bd. ft. 19 bd. ft. $2.80 per direct labor hr. $0.80 per direct labor hr. b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of management by exception major ✔cost deviations from standards can be investigated and corrected. ✔. Using this principle,