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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 $
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