Blossom company is planning to produce 1000 units of product in 2025. Each unit requires 1.00 pounds of materials at $4.00 per pound and a half hour labor at $12.00 per hour. The overhead rate is 40% of direct labor.

Compute the budgeted amounts for 2025 for direct materials to be used, direct labor, and applied overhead

Direct materials: $

Direct labor: $

Overhead: $

b.

Compute the standard cost of one unit of product (Round answer to 2 decimal places, e.g. 2.75)

Standard Cost: $ Per unit