Carolina Furniture Company manufactures unfinished oak furniture. Carolina 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

$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.