Question: Compute the standard cost for one hat, based on the following standards for each hat: Standard Material Quantity yard of fabric at $4.00 per yard

Compute the standard cost for one hat, based on the following standards for each hat:

Standard Material Quantity yard of fabric at $4.00 per yard

Standard Labor 1 hour at $5.75 per hour

Factory Overhead $2.90 per direct labor hour

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