Sergey Company has gathered the information shown below about its product. Direct materials: Each unit of product contains 4.80 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.50 pounds. Materials cost $2 per pound, but Sergey always takes the 1.53% cash discount all of its suppliers offer. Freight costs average $0.40 per pound. Direct labor: Each unit requires 1.80 hours of labor. Setup, cleanup, and downtime average 0.15 hours per unit. The average hourly pay rate of Sergey's employees is $12.20. Payroll taxes and fringe benefits are an additional $3.30 per hour. Manufacturing overhead: Overhead is applied at a rate of $7.80 per direct labor hour. Compute Sergey's total standard cost per unit.