Using the following information, calculate the standard unit cost of this product.
Direct material quantity standard: 5 pounds per unit
Direct material price standard: $10.20 per pound
Direct labor time standard: 0.2 hour per unit
Direct labor rate standard: $10.75 per hour
Variable overhead rate standard: $7.00 per machine hour
Fixed overhead rate standard: $11.00 per machine hour
Machine hour standard: 3 hours per unit