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Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a...

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Accounting

Standard Product Cost

Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard costsystem. 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 2.00 hrs.
Direct materials (oak): standard price $9.50 per bd. ft.
standard quantity 17 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. $ per dining room table

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

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