XYZ Company has gathered the information shown below about its prodect. Direct materials: Each unit of product contains 4.5 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.5 pounds. Materials cost $3 per pound, but XYZ always takes the 1% cash discount all of its suppliers offer. Freight costs average $0.25 per pound. Direct labor: Each unit requires 2 hours of labor. Setup, cleanup, and downtime average 0.2 hours per unit. The average hourly pay rate of XYZ employees is $10. Payroll taxes and fringe benefits are an additional $3 per hour Manufacturing overhead: Overhead is applied at a rate of S6 per direct labor hour. Instructions Compute XYZ's total standard cost per unit. Answer: Direct materials Cost per pound $ Pounds per unit 5 6 Direct labor Cost per hour $ Hours per unit 2.2 Manufacturing overhead Rate per hour Hours per unit $6.00 2.2 $ Total standard cost per unit $