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Required information [The following information applies to the questions displayed below.] Morganton Company makes one produc

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Answer #1

1 Unit of finished goods requires = 4 pounds of raw material

Raw material cost = $2.50 per pound

Hence, Raw material cost per unit of finished goods = 4 x 2.50

= $10

Direct labor wage rate = $12 per hour

1 Unit of finished goods requires = 2 direct labor hours

Hence, Direct labor cost per unit of finished goods = 2 x 12

= $24

Variable manufacturing overhead = $11 per direct labor hours

Hence, variable manufacturing overhead per unit of finished goods = 11 x 2

= $22

Unit product cost = Direct material + Direct labor + Variable manufacturing overhead

= 10 + 24 + 22

= $56

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