MDA incorporated processes corn into corn 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 syrup should be produced. - Standard direct labor and variable overhead total $0.44 per bushel of corn processed. - Standard fixed overhead (the predetermined fixed overhead application rate) is $0.42 per bushel processed. Required: a. Calculate the standard absorption cost per pound for the starch and syrup produced from the processing of 15,000 bushels of corn If the average cost per bushel is $1.43 b. Comment about the usefulness of this standard cost for management planning and control purposes