Crane Company is planning to produce 1,500 units of product in 2022. Each unit requires 1.6 pounds of materials at $5.0 per pound and a half-hour of labor at $16 per hour. The overhead rate is 60% of direct labor.

Compute the budgeted amounts for 2022 for direct materials to be used, direct labor, and applied overhead.

Direct materials $

Direct labor $

Overhead $

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

Standard cost $ Per Unit