Carolina Furniture manufactures unfinished oak furniture. Carolina uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dinning room table are as follows:
|Direct labor: Standard rate||$17.00 per hour|
|Standard time per unit||3 hours|
|Direct materials (oak): Standard price||$8.60 per board foot|
|Standard quantity||16 board feet|
|Variable factory overhead: Standard rate||$2.60 per direct labor hour|
|Fixed factory overhead: Standard rate||$1.20 per direct labor hour|
Determine the standard cost per dining room table.