Kimm Company has gathered the following information about its product.
Direct materials: Each unit of product contains 4.10 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.60 pounds. Materials cost $2 per pound, but Kimm always takes the 3.18% cash discount all of its suppliers offer. Freight costs average $0.36 per pound.
Direct labor. Each unit requires 2.70 hours of labor. Setup, cleanup, and downtime average 0.23 hours per unit. The average hourly pay rate of Kimm's employees is $11.90. Payroll taxes and fringe benefits are an additional $3.20 per hour.
- Manufacturing overhead. Overhead is applied at a rate of $5.20 per direct labor hour.
- Compute Kimm's total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.)