Determine the standard cost of the model

Question

The Peacock Company manufactures fishing rods and reels. The company uses a standard cost system. The direct labor, direct materials and factory overhead for the model #345 commercial fishing rod and reel are as follows:

1. Direct labor: Standard rate is $8 per hour
2. Standard time per unit is 1.5 hours
3. Direct materials: Standard price is $1 per linear foot
4. Standard quantity is 5 linear feet
5. Variable factory overhead: Standard rate is $10.50 per direct labor hour
6. Fixed factory overhead: Standard rate is $0.50 per direct labor hour

Determine the standard cost of the model #345 fishing rod and reel. Round the answer to nearest whole cent.