Answer:
Total Cost Per Product is $1.60
Explanation:
From the question the following information are derived:
Direct raw material cost per product = $1.50
The cost of the filter for producing 500 products = $50
Hence, the cost of the filter per product = $(50 / 500) = $0.10
In this question, No cost of labor is given, we can now decide the following
Total Cost per product = $(1.50 + 0.10)
= $1.60
Total Cost Per Product in this account is $1.60
If a company would like to produce 5000 products per week for 30 weeks. The Direct Material Cost for the raw materials used in the product is $1.50 per product. The Total Cost Per Product is $1.60.
Using this formula
Total cost per product=Direct raw material cost per product +( Filter costs/Production)
Where:
Direct raw material cost per product = $1.50
Costs of filter =$50
Production=500
Let plug in the formula
Total cost per product=$1.50+($50 / 500)
Total cost per product=$1.50+$0.10
Total cost per product=$1.60
Inconclusion if a company would like to produce 5000 products per week for 30 weeks. The Direct Material Cost for the raw materials used in the product is $1.50 per product. The Total Cost Per Product is $1.60.
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