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Lovitz Company is planning to produce 2,000 units of product in 2012. Each unit requires 3 kilograms of materials at $6 per kilogram and a half hour of labour at $14 per hour. The overhead rate is 70% of direct labour.
Calculate:Direct material cost per unit: $ Answer per unit
Total kilograms of direct materials for 2,000 units: Answer kilograms
Total direct materials cost for 2,000 units: $ Answer
Direct labour cost per unit: $ Answer per unit
Total direct labour hours for 2,000 units: Answer hours
Total direct labour cost for 2,000 units: $ Answer
Overhead rate per direct labour hour: $ Answer per hour
Overhead rate per unit: $ Answer per unit
Total overhead cost for 2,000 units: $
AnswerCompute the standard cost of one unit of product. $ Answer
