Reference no: EM132509833
Stefani Company has gathered the following information about its product.
Direct materials: Each unit of product contains 4.00 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 1.00 pounds. Materials cost $1 per pound, but Stefani always takes the 1.00% cash discount all of its suppliers offer. Freight costs average $0.25 per pound.
Direct labor. Each unit requires 1.80 hours of labor. Setup, cleanup, and downtime average 0.20 hours per unit. The average hourly pay rate of Stefani's employees is $13.10. Payroll taxes and fringe benefits are an additional $2.60 per hour.
Manufacturing overhead. Overhead is applied at a rate of $4.90 per direct labor hour.
Question1 : Compute Stefani's total standard cost per unit
Type of Cost
Direct Materials
Raw Materials - ($1 * 4lbs) = $ 4.00
Discounts ($4.00 * 0.01) = $ 0.04
Freights ($0.25 * 4lbs) = $1.00
Total Direct Material Costs = $ 4.96
Direct Labor
Direct Labor ($13.10 * 1.8 hours) = $23.58
Payroll Tax & Fringe = (2.6 * 1.8) = $ 4.68
Total Direct Labor Costs = $28.26
Overhead
Overhead ($4.90 * 1.8) = 8.82
Total Standard Cost = 42.04
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