Lisa Company uses both standards and budgets. For the year, estimated production of Product X is 586,000 units. Total estimated cost for materials and labor are $1,347,800 and $1,758,000 respectively. Compute the estimates for (a) a standard cost and (b) a budgeted cost. (Round standard costs to 2 decimal places, e.g. 1.25.) (a) (b) Standard cost Budgeted cost Touth $ $ Materials LA Labor

Lisa Company uses both standards and budgets. For the year, estimated production of Product X is 586,000 units. Total estimated cost for materials and labor are $1,347,800 and $1,758,000 respectively. Compute the estimates for (a) a standard cost and (b) a budgeted cost. (Round standard costs to 2 decimal places, e.g. 1.25.)