Reference no: EM132464158
Question - Pargo Company is preparing its budgeted income statement for 2017. Relevant data pertaining to its sales, production, and direct materials budgets are as follows.
Sales - Sales for the year are expected to total 1,700,000 units. Quarterly sales are 22%, 25%, 24%, and 29%, respectively. The sales price is expected to be $40 per unit for the first three quarters and $47 per unit beginning in the fourth quarter. Sales in the first quarter of 2018 are expected to be 11% higher than the budgeted sales for the first quarter of 2017.
Production - Management desires to maintain the ending finished goods inventories at 19% of the next quarter's budgeted sales volume.
Direct materials - Each unit requires 2 pounds of raw materials at a cost of $11 per pound. Management desires to maintain raw materials inventories at 10% of the next quarter's production requirements. Assume the production requirements for first quarter of 2018 are 491,000 pounds.
Pargo budgets 0.3 hours of direct labor per unit, labor costs at $12 per hour, and manufacturing overhead at $18 per direct labor hour. It's budgeted selling and administrative expenses for 2017 are $6,629,000.
Required - Calculate the budgeted total unit cost.
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