Do It Review 23-1 Larkin Company accumulated the following standard cost data co

Question

Do It Review 23-1 Larkin Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 2.86 pounds at $5.58 per pound Direct labor per unit: 6.14 hours at $13 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $15.60 per direct labor hour Compute the standard cost of one unit of product I-Tal. (Round answer to 2 decimal places, e.g. 2.75.) Standard cost Click If you would like to Show Work for this question: Open Show Work

Explanation / Answer

Standard cost per unit = Direct material + direct labor + manufacturing overhead

= 2.86 *5.58 + 6.14 *13 + 15.60 * 6.14

= 191.56

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