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Oxnard Industries produces a product that requires 2.6 pounds of materials per unit. The allowance for waste and spoilage per unit is.3 pounds and 2
Oxnard Industries produces a product that requires 2.6 pounds of materials per unit. The allowance for waste and spoilage per unit is.3 pounds and 2 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $.10 per pound, and receiving and handling costs are $.12 per pound. The hourly wage rate is $12.00 per hour, but a raise which will average $.40 will go into effect soon. Payroll taxes are $1.20 per hour, and fringe benefits average $2.40 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is.2 hours and. 1 hours, respectively. What is the standard direct materials price per pound? Do not use dollar signs, but do include your answer to the cent: What is the standard direct materials quantity per unit, in pounds? (include the answer to the tenth place) What is the standard direct labor rate per hour? Do not use dollar signs and round to the nearest dollar. What is the standard direct labor hours per unit in hours? Include the answer to the tenths place
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