Exercise 25-3 stefani company has gathered the following information about its product. direct materials: each unit of product contains 3.40 pounds of materials. the average waste and spoilage per unit produced under normal conditions is 0.10 pounds. materials cost $2 per pound, but stefani always takes the 5.00% cash discount all of its suppliers offer. freight costs average $0.45 per pound. direct labor. each unit requires 2.80 hours of labor. setup, cleanup, and downtime average 0.10 hours per unit. the average hourly pay rate of stefani’s employees is $13.10. payroll taxes and fringe benefits are an additional $3.00 per hour. manufacturing overhead. overhead is applied at a rate of $5.90 per direct labor hour. compute stefani’s total standard cost per unit. (round answer to 2 decimal places, e. g. 1.25.) total standard cost per unit $

Total standard cost per unit= $71,41 unit

Explanation:

Standard cost is the sum of direct materials, direct labor, and manufacture overhead.

Direct materials:

Each unit of the product contains 3.40 pounds of materials.

The average waste and spoilage per unit produced under normal conditions is 0.10 pounds.

Materials cost $2 per pound, it takes a 5.00% cash discount.

Freight costs $0.45 per pound.

Direct materials= (3,4+0,10)*(2*0,95)+ (0,45*3,5) =$8,20unit

Direct labor:

Each unit requires 2.80 hours of labor.

Setup, cleanup, and downtime 0.10 hours per unit.

The average hourly pay rate of Stefani’s employees is $13.10.

Payroll taxes and fringe benefits are an additional $3.00 per hour.

Direct labor=($13,10*2,9hours)+($3*2,9hours)=$46,69 unit

Manufactured overhead:

Overhead is applied at a rate of $5.90 per direct labor hour.

Overhead=$5,90*2,8hours=$16,52unit

Total standard cost per unit= 8,20+46,69+16,52=$71,41 unit

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