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On October 7, Daniel Casual Shoes began a production run of its most popular shoe, the Damn Daniel That's Fleek model by transferring in
On October 7, Daniel Casual Shoes began a production run of its most popular shoe, the "Damn Daniel That's Fleek" model by transferring in canvas material that was properly cut and attached to pre-constructed shoe soles. The Company completed the production run on October 25. The following information was obtained from the accounting records of Daniel Casual Shoes relative to the production run: Total Units Produced Canvass Material Used 410,000 pairs 307,500 square yards Historic Cost of Cavass Purchased $2.962 Per square yard Cost of Pre-Constructed Shoe Soles Used $985,025 Wages of Assembly Line Workers Overhead Applied to the Production Run $1,168,500 $1,127,500 Be sure to round the historic cost per pair of the shoes produced to the tenth of a cent. For example, $1.8549, would be rounded as $1.855. Compute the Historic Cost per Pair of the "Damn Daniel That's Fleek" model produced.
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