Question: Current Attempt in Progress Melissa Company uses both standards and budgets. For the year, estimated production of Product X is 567,000 units. Total estimated cost

Current Attempt in Progress Melissa Company uses both standards and budgets. For the year, estimated production of Product X is 567,000 units. Total estimated cost for materials and labor are $1,587,600 and $1,927,800 respectively. Compute the estimates for (a) a standard cost and (b) a budgeted cost. (Round standard costs to 2 decimal places, eg. 1.25.)

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