ConcordCompany is planning to produce3,000units of product in 2017. Each unit requires1.00pounds of materials at $5.80per pound and a half-hour of labor at $12.00per hour. The overhead rate is60% of direct labor.

(a) Compute the budgeted amounts for 2017 for direct materials to be used, direct labor, and applied overhead.

Direct materials $ _______________________ enter a dollar amount

Direct labor $ _______________________ enter a dollar amount

Overhead $ _______________________ enter a dollar amount

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

Standard Cost $ ___________________________