Pina Company is planning to produce 3,000 units of product in 2020. Each unit requires...
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Accounting
Pina Company is planning to produce 3,000 units of product in 2020. Each unit requires 1.00 pounds of materials at $5.80 per pound and a half-hour of labor at $12.00 per hour. The overhead rate is 60% of direct labor. (a) Compute the budgeted amounts for 2020 for direct materials to be used, direct labor, and applied overhead.
Direct materials
$enter a dollar amount
Direct labor
$enter a dollar amount
Overhead
$enter a dollar amount
(b) Compute the standard cost of one unit of product. (Round answer to 2 decimal places, e.g. 2.75.)
Standard cost
$enter the standard dollar cost of one unit of product rounded to 2 decimal places
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