Parsons Company is planning to produce 2,000 units of product in 2017.
AccountingGenius (Not rated)
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Parsons Company is planning to produce 2,000 units of product in 2017. Each unit requires 1.40 pounds of materials at $7.60 per pound and a half-hour of labor at $16.00 per hour. The overhead rate is 80% of direct labor.
(a) Compute the budgeted amounts for 2017 for direct materials to be used, direct labor, and applied overhead.
(b) Compute the standard cost of one unit of product.
- 7 years ago
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