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Hickory Furniture Company manufactures unfinished oak furniture. Hickory uses a standard cost system. The direct labor,direct materials,and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $18.00 per hr. standard time per unit 2.5 hrs. Direct materials (oak): standard price $9.50 per bd. ft. standard quantity 18 bd. ft. Variable factory overhead: standard rate $2.80 per direct labor hr. Fixed factory overhead: standard rate $1.20 per direct labor hr. Determine the standard cost per dining room tableAns Hickory Furniture CompanyCalculation of Standard cost per Dining Room TableItem Req. Units/ Table Rate ($) Amount ($) Direct Labor (Hrs) 2.5 18 45 Direct Material (Oak) ft 18 9.5 171 Variable…