Question: Compute the standard cost for one hat, based upon the following standards for each hat: Standard Material Quantity 1/2 yard of fabric @ $5.00 per

Compute the standard cost for one hat, based upon the following standards for each hat: Standard Material Quantity 1/2 yard of fabric @ $5.00 per yard Standard Labor 2 hours @ $5.75 per hour Factory Overhead $3.20 per direct hour

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