Concord Company has gathered the following information about its product. Direct materials: Each unit of product contains 3.20 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.80 pounds. Materials cost $2 per pound, but Concord always takes the 5.00% cash discount all of its suppliers offer. Freight costs average $0.25 per pound.
Direct labor. Each unit requires 2.10 hours of labor. Setup, cleanup, and downtime average 0.10 hours per unit. The average hourly pay rate of Concord’s employees is $13.20. Payroll taxes and fringe benefits are an additional $2.20 per hour.
Manufacturing overhead. Overhead is applied at a rate of $4.80 per direct labor hour.
Compute Concord’s total standard cost per unit. (Round answer to 2 decimal places, e. g. 1.25.)
Total standard cost per units $ .

Presented below is a list of possible transactions. analyze the effect of the 18 transactions on the financial statement categories indicated. transactions assets liabilities owners’ equity net income 1. purchased inventory for $80,000 on account (assume perpetual system is used). 2. issued an $80,000 note payable in payment on account (see item 1 above). 3. recorded accrued interest on the note from item 2 above. 4. borrowed $100,000 from the bank by signing a 6-month, $112,000, zero-interest-bearing note. 5. recognized 4 months’ interest expense on the note from item 4 above. 6. recorded cash sales of $75,260, which includes 6% sales tax. 7. recorded wage expense of $35,000. the cash paid was $25,000; the difference was due to various amounts withheld. 8. recorded employer’s payroll taxes. 9. accrued accumulated vacation pay. 10. recorded an asset retirement obligation. 11. recorded bonuses due to employees. 12. recorded a contingent loss on a lawsuit that the company will probably lose. 13. accrued warranty expense (assume expense warranty approach). 14. paid warranty costs that were accrued in item 13 above. 15. recorded sales of product and related service-type warranties. 16. paid warranty costs under contracts from item 15 above. 17. recognized warranty revenue (see item 15 above). 18. recorded estimated liability for premium claims outstanding.