Jennifer Company has gathered the following information about its product. Direct materials: Each unit of product contains 5.0 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 1.0 pounds. Materials cost $1 per pound, but Jennifer always takes the 5% cash discount all of its suppliers offer. Freight costs average $0.25 per pound. Direct labor. Each unit requires 1.7 hours of labor. Setup, cleanup, and downtime average 0.2 hours per unit. The average hourly pay rate of Jennifer's employees is $10.6. Payroll taxes and fringe benefits are an additional $3.4 per hour. Manufacturing overhead. Overhead is applied at a rate of $7.9 per direct labor hour. Compute Jennifer's total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.) Total standard cost per unit $
Jennifer Company has gathered the following information about its product. Direct materials: Each unit of product contains 5.0 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 1.0 pounds. Materials cost $1 per pound, but Jennifer always takes the 5% cash discount all of its suppliers offer. Freight costs average $0.25 per pound. Direct labor. Each unit requires 1.7 hours of labor. Setup, cleanup, and downtime average 0.2 hours per unit. The average hourly pay rate of Jennifer's employees is $10.6. Payroll taxes and fringe benefits are an additional $3.4 per hour. Manufacturing overhead. Overhead is applied at a rate of $7.9 per direct labor hour. Compute Jennifer's total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.) Total standard cost per unit $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please do not give solution in image format thanku
Transcribed Image Text:Jennifer Company has gathered the following information about its product.
Direct materials: Each unit of product contains 5.0 pounds of materials. The average waste and spoilage per unit produced under
normal conditions is 1.0 pounds. Materials cost $1 per pound, but Jennifer always takes the 5% cash discount all of its suppliers offer.
Freight costs average $0.25 per pound.
Direct labor. Each unit requires 1.7 hours of labor. Setup, cleanup, and downtime average 0.2 hours per unit. The average hourly pay
rate of Jennifer's employees is $10.6. Payroll taxes and fringe benefits are an additional $3.4 per hour.
Manufacturing overhead. Overhead is applied at a rate of $7.9 per direct labor hour.
Compute Jennifer's total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.)
Total standard cost per unit $
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education