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 $20.00 per hr.   standard time per unit 3.00 hrs. Direct materials (oak): standard price $10.00 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. a.  Determine the standard cost per dining room table. If required, round your answer to two decimal places. $fill in the blank 1 per dining room tabl

FINANCIAL ACCOUNTING
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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 $20.00 per hr.
  standard time per unit 3.00 hrs.
Direct materials (oak): standard price $10.00 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.

a.  Determine the standard cost per dining room table. If required, round your answer to two decimal places.
$fill in the blank 1 per dining room table

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

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