DMA Inc processes corn into corn starch and corn syrup The company's productivity and cost standards follow From every bushel of corn processed, 14 pounds of starch and 7 pounds of syrup should be produced Standard direct labor and variable overhead total $0 44 per bushel of corn processed Standard fixed overhead (the predetermined fixed overhead application rate) is $0 34 per bushel processed Required a Calculate the standard absorption cost per pound for the starch and syrup produced from the processing of 14,000 bushels of corn if the average cost per bushel is $1 45 (Do not round intermediate calculations Round final answer to 3 decimal places )

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Question: DMA Inc. processes corn into corn starch and corn syrup. The company's productivity and cost standards follow: From every bushel of corn processed, 14 pounds

DMA Inc. processes corn into corn starch and corn syrup. The company's productivity and cost standards follow:

From every bushel of corn processed, 14 pounds of starch and 7 pounds of syrup should be produced.
Standard direct labor and variable overhead total $0.44 per bushel of corn processed.
Standard fixed overhead (the predetermined fixed overhead application rate) is $0.34 per bushel processed.

Required: a. Calculate the standard absorption cost per pound for the starch and syrup produced from the processing of 14,000 bushels of corn if the average cost per bushel is $1.45. (Do not round intermediate calculations. Round final answer to 3 decimal places.)

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