A company is setting its direct materials and direct labor standards for its leading product....
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Accounting
A company is setting its direct materials and direct labor standards for its leading product. Direct material costs from the supplier are $7.00 per square foot, net of purchase discount. Freight-in amounts to $0.40 per square foot. Basic wages of the assembly line personnel are $12.00 per hour. Payroll taxes are approximately 20% of wages. How much is the direct labor cost standard per hour? (Round your answer to the nearest cent.)
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