Lincoln Electric Inc. has a direct manufacturing cost of $147/welding unit anddefective units can be reworked for $46/unit. Of the 343 units that beginproduction per day, 89% are good and 60% of defective motors can bereworked.What is the product cost per unit? Hint: you already calculated the Yield for thelast question.Round your answer to 2 decimal places. Do NOT include the $ sign. Answerlike 123.45.

Answered: What is the product cost per unit?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

Lincoln Electric Inc. has a direct manufacturing cost of $147/welding unit and
defective units can be reworked for $46/unit. Of the 343 units that begin
production per day, 89% are good and 60% of defective motors can be
reworked.
What is the product cost per unit? Hint: you already calculated the Yield for the
last question.
Round your answer to 2 decimal places. Do NOT include the $ sign. Answer
like 123.45.

Expert Solution

Step 1 Introduction:-

Production is the process in which inputs are combined to have the required output. It includes a number of tools, equipment, materials, machinery, etc. Production is not related to producing one product, it's producing the products in large quantities. Certain expenses and costs are connected to the production process. All these costs are to be managed along with certain activities to achieve the production targets effectively.