Reference no: EM132882350
Question - Genorex Company makes space toys for kids including a flying saucer and a rocket ship and uses a traditional product costing system. Both products are made using Direct Materials, Direct Labor and Manufacturing Overhead. Manufacturing Overhead is allocated using machine hours. For the year, the budgeted number of machine hours was 8,000, and the number of budgeted direct labor hours was 4,000 at a rate of $25 per hour.
The flying saucer and rocket ship use $7.50 and $5.50 of direct materials, per unit, respectively. The company manufactured 3,000 units of flying saucers and 5,000 units of rocket ships for the year. Each flying saucer consumes 0.75 hours of direct labor and 1.5 machine hours to be produced, while each rocket ship requires 0.35 hours of direct labor and 0.7 machine hours to be made.
Cost Data for the Genorex Company:
Direct Materials $50,000
Receiving and material handling $40,500
Marketing costs $12,225
Machine maintenance $30,000
Administrative costs $16,070
Machine depreciation $45,000
Quality inspection $20,500
Required - What are the unit costs for flying saucer and rocket ship under Genorex Company's current product costing system?
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