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edugen.wileyplus.com IContact Us I Log Out yPLUS Kimmel, Accounting: Tools for Business Decision Making, Se FINANCIAL AND MANAGERIAL ACCOUNTING ( ) ad, Study & Practice > Open Assignment TULL SCREEN T RESOURCES Hemewerk Exercise 23-1 Shannon Company is planning to produce 2,000 units of product in 2014. Each unit requires 3.00 pounds of materials at $5.00 per pound and a half-hour of labor at $15.00 per hour. The overhead rate is 70.00% of direct labor. se 22-2 Your answer is incorrect. Try again Compute the budgeted amounts for 2014 for direct materials to be used, direct lebor, and applied overhead. 23-4 23-6 2-34 Direct materials 7.50 by StudyDirect labor ults Overhead 5.25 Breur answer is correct. Compute the standard cost of one unit of product. (Round answer to 2 decimal places, eg-2.75.) Sandard cost 27,73 7.75 Click if you would like to Show Work for this question: Open Show work SHOW SOLUTION SHOW ANSWER ment I Py PollcyI All Rights Reserved. A Division o hewly. Version 4.24.62

Explanation / Answer

2000 units Amount Per unit Direct material 30000 15 (3*5) Direct labor 15000 7.5 (.5*15) Overheads 10500 5.25 (7.50*70%) Total cost 55500 27.75

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