ABC Company's budgeted sales for June, July, and August are 12,400, 16,400, and 14,400 units respectively. Each unit that ABC Company produces uses 3 pounds of raw material. ABC requires 25 % of the next month's budgeted production as raw material inventory each month. ABC Company currently pays a standard rate of $1.5 per pound for raw materials. Each unit should be produced in 15 minutes of direct labor time at a standard direct labor rate of $11.2 per hour. Manufacturing overhead is applied at the standard rate of $14 per direct labor hour. Required: Calculate the standard cost per unit for ABC Company. (Round your answer to 2 declimal places.) Standard cost per unit es 7 of 11 Next Prev Osage Inc. has actual sales for May and June and forecast sales for July. August, September, and October as follows: Actual: May June Forecast: 5,820 units 6,270 units July August September 5,530 units October 6,060 units 6,880 units 5,370 units t Required: a. The firm's policy is to have finished goods inventory on hand at the end of the month that is equal to 50% of the next month's sales. It is currently estimated that there will be 3,030 units on hand at the end of June. Calculate the number of units to be produced in each of the months of July, August, and September ances July August September Production b. Each unit of finished product requires 5 pounds of raw materials. The firm's policy is to have raw material inventory on hand at the end of each month that is equal to 55% of the next month's estimated usage. it is currently estimated that 25,200 pounds of raw materials will be on hand at the end of June. Calculate the number of pounds of raw materials to be purchased in each of the months of July and August July August Purchases