RHO Company began its operations on January 1 and produces a single product that sells for $10.25 per unit. Standard capacity is 80,00 . units per year. The 80,00 . units were produced and 70,00 . units were sold during the year. Manufacturing costs and selling and administrative expenses follow: Fixed Costs Variable Costs Raw materials -- $3.00 per unit produced Direct labor -- 1.50 per unit
produced Factory overhead $120,000 1.00 per unit produced Selling and administrative 80,000 .50 per unit sold What is the standard cost of manufacturing a unit of product?
a. $6.50
b. $7.00
c. $5.50
d. $6.00
b
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Fill in the blank(s) with correct word
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Indicate whether the statement is true or false
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