Stratton Manufacturing Company uses a standard cost accounting system. In 2011, the company produced 28,000 units. Each unit took several pounds of direct materials and 1.5 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,000 direct labor hours. During the year, 131,000 pounds of raw materials were purchased at $0.92 per pound. All materials purchased were used during the year.

Instructions

1. If the materials price variance was $2,620 favorable, what was the standard materials price per pound? (2)
2. If the materials quantity variance was $4,700 unfavorable, what was the standard materials quantity per unit? (2)
3. What were the standard hours allowed for the units produced? (2)
4. If the labor quantity variance was $7,200 unfavorable, what were the actual direct labor hours worked? (2)
5. If the labor price variance was $10,650 favorable, what was the actual rate per hour? (2)
6. If total budgeted manufacturing overhead was $350,000 at normal capacity, what was the predetermined overhead rate? (2)

What was the standard cost per unit of product?