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Atlas Furniture Company manufactures designer home furniture. Atlas uses a standard cost system. The direct...

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Accounting

Atlas Furniture Company manufactures designer home furniture. Atlas 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 $28.00 per hr.
standard time per unit 5.0 hrs.
Direct materials (oak): standard price $12.00 per bd. ft.
standard quantity 18 bd. ft.
Variable factory overhead: standard rate $2.00 per direct labor hr.
Fixed factory overhead: standard rate $3.80 per direct labor hr.
a.Determine the standard cost per dining room table.
b.Why would Atlas Furniture Company use a standard cost system?

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