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, 11 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, 11 pounds of starch and 4 pounds of syrup should be produced. Standard direct labor and variable overhead total $0.50 per bushel of corn processed. Standard fixed overhead (the predetermined fixed overhead application rate) is $0.36 per bushel processed.

Required: a. Calculate the standard absorption cost per pound for the starch and syrup produced from the processing of 12,500 bushels of corn if the average cost per bushel is $2.42. (Do not round intermediate calculations. Round final answer to 3 decimal places.)

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