Question: Compute the standard cost for one hat, based on the following standards for each hat: Standard material quantity: 2 yard of fabic at $4.00 per

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

Standard material quantity: 2 yard of fabic at $4.00 per yard
Standard labor: 1 hour at $11.00 per hour
Factory overhead $4.00 per direct labor hour

(b) If 1000 units are produced what should be the standard costs, assuming all factory overhead is variable.

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