Exercise 14-18 (Algo) Standard absorption cost per unit LO 14-9, 14-10 A cost analyst for Stamper Manufacturing Company has assembled the following data about the Model 24 stamp pad: - The piece of sheet metal from which 6 pad cases can be made costs $0.17 - This amount is based on the number of sheets in a 4,900-pound bundle of sheet metal, which is the usual purchase quantity. - The foam pad that is put in the case costs $0.06, based on the number of pads that can be cut from a large roll of foam. - Production standards, based on engineering analysis recognizing attainable performance, provide for the manufacture of 1,990 pads by 2 workers in an eight-hour shift. The standard direct labor pay rate is $11.35 per hour: - Manufacturing overhead is applied to units produced using a predetermined overhead application rate of $18.5 per direct labor hour, of which $6.4 per hour is fixed manufacturing overhead. Required: a. Calculate the standard absorption cost of a package of 16 stamp pads. b. Stamper Manufacturing Company's management is considering a special promotion that would result in increased sates of 1,800 packages of 16 pads per package. Calculate the cost per package that is relevant for this analysis. Note: For all requirements, do not round intermediate calculations. Round finol answer to 2 decimal places