Question: Need help with A and B.. This is one whole problem so politely skip if you cant answer both A and B :) TYIA Exer

Need help with A and B.. This is one whole problem so politely skip if you cant answer both A and B :) TYIA

Exer 11-1 (also in your book at end of chapter)

Parsons Company is planning to produce 2,000 units of product in 2022. Each unit requires 3 pounds of materials at $5 per pound and a half-hour of labor at $16 per hour. The overhead rate is 70% of direct labor.

Instruction

(a) Compute the budgeted amounts for 2022 for direct materials to be used, direct labor, and applied overhead.

(b) Compute the standard cost of one unit of product.

(a) Item YOUR calculation (What # x What #) Total Budget $
Direct Materials
Direct Labor
Overhead
Total

UNIT Cost (as in ONE piece, ONE unit, ONE item, one, uno, iti, yi, eins, nueng, un, moja)

(b) Per UNIT YOUR calculation (What # x What #) UNIT Cost $
UNIT Direct Materials
UNIT Direct Labor
UNIT Overhead
UNIT Cost Total

(Ya think maybe Ive had students submit total costs for this answer before OFTEN?)

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