(Solved):Innova uses 1,034 units of the component IMC2 every month to manufacture one of its products. The…

 

Question

Innova uses 1,034 units of the component IMC2 every month to manufacture one of its products. The unit costs incurred to manufacture the component are as follows.

Direct materials $56.00
Direct labor 41.00
Overhead 126.50
Total $223.50

Overhead costs include variable material handling costs of $7.10, which are applied to products on the basis of direct material costs. The remainder of the overhead costs are applied on the basis of direct labor dollars and consist

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