DMA, Inc., processes corn into corm starch and corn syrup. The company's productivity and cost standards follow From every bushel of com processed, 11 pounds of starch and 4 pounds of stup should be produced. Standard direct labor and variable overhead total $0.41 per bushel of corn processed Standard fixed overhead (the predetermined fixed overhead application rate) is $0.33 per bushel processed. Required: a. Caloulate the standard absorption cost per pound for the starch and syrup produced from the processing of 13,500 bushels of com if the average cost per bushel is $1.42. (Do not round intermediate calculations. Round final answer to 3 decimal places.) per pound b. Comment about the usefulness of this standard cost for management planning and control purposes