Cost Formula The following amounts of various cost categories are experienced by Patton Manufacturing in producing and selling its only product: Direct material $14.00 per unit of product Direct labor $12.00 per direct labor hour* Manufacturing overhead $15,000+ $3.50 per direct labor hour Selling expenses $17,000+ $2.75 per unit of product Administrative $9,000+ $0.40 per unit of product *Each unit of product requires 1.5 direct labor hours. Combine the various cost factors into a general total cost formula for Patton Manufacturing and determine the total cost of producing and selling 25,000 units. Direct material Direct labor Manufacturing overhead Selling expenses Administrative Total cost Fixed costs + Variable costs = $ $ 0 $ $ 0 0 0 0 0 0 $ 0 0 0 0 0 $ Total cost 0 0 0 0 0 0

Cost Formula The following amounts of various cost categories are experienced by Patton Manufacturing in producing and selling its only product: Direct material $14.00 per unit of product Direct labor $12.00 per direct labor hour* Manufacturing overhead $15,000+ $3.50 per direct labor hour Selling expenses $17,000+ $2.75 per unit of product Administrative $9,000+ $0.40 per unit of product *Each unit of product requires 1.5 direct labor hours. Combine the various cost factors into a general total cost formula for Patton Manufacturing and determine the total cost of producing and selling 25,000 units. Direct material Direct labor Manufacturing overhead Selling expenses Administrative Total cost Fixed costs + Variable costs = $ $ 0 $ $ 0 0 0 0 0 0 $ 0 0 0 0 0 $ Total cost 0 0 0 0 0 0

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Description: Cost FormulaThe following amounts of various cost categories are experienced by Patton Manufacturing in producing and selling its only product:Direct materialDirect labor$14.00 per unit of product$12.00 per direct labor hour*Manufacturing overhead $

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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