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New Jersey Valve Company manufactured 7,400 units during January of a control valve used by...

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Accounting

imageimageNew Jersey Valve Company manufactured 7,400 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following:

Direct labor 45,300 hr. at $15.40 per hr.
Direct material purchased 32,000 lb. at $2.80 per lb.
Direct material used 29,300 lb.

The control valve has the following standard prime costs:

Direct material 4 lb. at $2.70 per lb. $ 10.80
Direct labor 6 hr. at $15.80 per hr. 94.80
Standard prime cost per unit $ 105.60

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