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Pitman Chemical Company manufactures and sells Goody, a product that sells for 10 per pound. The manufacturing process also yields 1 pound of a waste product, called Baddy, in the productionof every 10 pounds of Goody. Disposal of the waste product costs 1 per pound. During March, the company manufactured 200,000 pounds of Goody. Total manufacturing costs were as follows:
Direct materials 232,000
Direct labor 120,000
Manufacturing support costs 60,000
Total costs 412,000
a. Determine the cost per pound of Goody.
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