Vintech Company is planning to produce 2,400 units of product in 2011. Each unit requires 4 pounds of materials at $8 per pound and a half hour of labor at $17 per hour. The overhead rate is 80% of direct labor.
Compute the budgeted amounts for 2011 for direct materials to be used, direct labor, and applied overhead.
- Direct materials $
- Direct labor $
- Applied overhead $
Compute the standard cost of one unit of product. (Round intermediate calculations and your answer to 2 decimal places, e.g. 10.50.)