Preparing an Ending Finished Goods Inventory Budget

Andrews Company manufactures a line of office chairs. Each chair takes $16 of direct materials and uses 1.9 direct labor hours at $14 per direct labor hour. The variable overhead rate is $1.00 per direct labor hour, and the fixed overhead rate is $1.70 per direct labor hour. Andrews expects to have 700 chairs in ending inventory. There is no beginning inventory of office chairs.

Required:

1. Calculate the unit product cost. Round your answer to the nearest cent. $

2. Calculate the cost of budgeted ending inventory. Round your answer to the nearest dollar. $