LG Co is in the process of setting standard costs for next period. Product F uses two types of material, M and N. 6 kg of material M and 5 kg of material N are to be used, at a standard price of $2 per kg and $3 per kg respectively. Three hours of skilled labour and one hour of semi-skilled labour will be required for each unit of F. Wage rates will be $8 per hour and $6 per hour respectively. Production overhead is to be absorbed at a rate of $4 per labour hour. Ten per cent is to be added to total production cost to absorb administration, selling and distribution costs. The standard cost of production for one unit of F will be: