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Kimm Company has gathered the following information about its product.

Direct materials: Each unit of product contains 4.60 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.10 pounds. Materials cost $5 per pound, but Kimm always takes the 3.54% cash discount all of its suppliers offer. Freight costs average $0.44 per pound.

Direct labor. Each unit requires 1.20 hours of labor. Setup, cleanup, and downtime average 0.17 hours per unit. The average hourly pay rate of Kimm's employees is $13.80. Payroll taxes and fringe benefits are an additional $3.50 per hour.

Manufacturing overhead. Overhead is applied at a rate of $6.20 per direct labor hour.

Compute Kimm's total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.)

Total standard cost per unit $??

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947803

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