Patricia Industries gathered the following budgeted information about its product: Each unit of product contains...
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Accounting
Patricia Industries gathered the following budgeted information about its product: Each unit of product contains 5kg of materials at a cost of $7 per kilogram. The average waste and spoilage per unit produced under normal conditions is 0.20kg. Freight costs average $0.90 per kilogram. Each unit requires 2 hours of labour. Rest periods and cleanup average 0.30 hours per unit and set-up time averages 0.50 hours. The average pay rate of Patricia's employees is $14 per hour with an additional $1.60 per hour for payroll taxes and benefits. Manufacturing overhead is applied at a rate of $8 per direct labour hour. Calculate Patricia's total standard cost per unit. (Round calculations and final answer to 2 decimal places, e.g. 15.25.)
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