in 2 Exercise 11-1 Parsons Company is planning to produce 2,500 units of product

Question

in 2 Exercise 11-1 Parsons Company is planning to produce 2,500 units of product in 2017. Each unit requires 1.00 pounds of materials at $6.20 per pound and a halif-hour of $16.00 per hour. The overhead rate is 80% of direct labor. Compute the budgeted amounts for 2017 for direct materials to be used, direct labor, and applied overhead Direct materials Direct labor Overhead s Compute the standard cost of one unit of product. (Round answer to 2 decimal places, e.g. 2.75.) TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER 27

Explanation / Answer

a.budegeted amount along with calculations:

b.standard cost of one unit of product:

standard cost per unit = total standard cost / number of units

=>(15,500+20,000+16,000) /2500

=>$20.60

direct materials $15,500 2500 units*1 pound per unit*$6.20 per pound =>$15,500 direct labour $20,000 2500 units*0.5 hour per unit * $16.00 per hour =>$20,000 overhead $16,000 80% * $20,000 direct labour

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