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Erie Company manufactures a small MP3 player called the Jogging Mate. The company uses standards to control its costs. The labour standards that have been set for one Jogging Mate MP3 player are as follows: Standard hoursStandard rate per hourStandard cost15 minutes£ 9.00£ 2.25
Required:
Problem 1: What direct labour cost should have been incurred in the manufacture of the 30,000 units of the Jogging Mate?
Problem 2: By how much does this differ from the cost that was incurred?
Calculate sales needed to achieve a profit of $1,800,000, assuming the current mix. (Round to the nearest dollar.)
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