Parsons Company is planning to produce 2,100 units of product in 2020. Each unit requires 1.60 pounds of materials at $6

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Parsons Company is planning to produce 2,100 units of
product in 2020. Each unit requires 1.60 pounds of
materials at $6.40 per pound and a half-hour of labor at
$16.00 per hour. The overhead rate is 60% of direct
labor.

(a)

Compute the budgeted amounts for 2020 for direct materials to be
used, direct labor, and applied overhead.
(b)

Compute the standard cost of one unit of
product. (Round answer to 2 decimal places, e.g.
2.75.)