Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kimm Company has gathered the following information about its product. Direct materials: Each unit of product contains 4.30 pounds of materials. The average waste and

Kimm Company has gathered the following information about its product. Direct materials: Each unit of product contains 4.30 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.10 pounds. Materials cost $1 per pound, but Kimm always takes the 1.59% cash discount all of its suppliers offer. Freight costs average $0.42 per pound. Direct labor. Each unit requires 2.50 hours of labor. Setup, cleanup, and downtime average 0.22 hours per unit. The average hourly pay rate of Kimms employees is $12.80. Payroll taxes and fringe benefits are an additional $2.90 per hour. Manufacturing overhead. Overhead is applied at a rate of $5.80 per direct labor hour. Compute Kimms total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.) Total standard cost per unit $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems The Crossroads Of Accounting And IT

Authors: Donna Ulmer, Donna Kay, Ali Olia

1st Edition

0132132524, 9780132132527

More Books

Students also viewed these Accounting questions

Question

work settings of recent graduates;

Answered: 1 week ago