The product cost per unit is $53.30 along the rims and $28.29 along the posts.
What does the mean cost mean in math?
The average cost price is the quantity as an arithmetic average of the average amount. Average or mean is defined as the product of the total number of data given and the total number of data given. We have the cost of the goods and the overall quantity of goods or products provided when determining average cost pricing.
How do you find the cost in math?
Cost price, for instance, equals selling price plus profit. Cost is equal to Selling price plus Loss. Cost price = 100 Selling Price + 100 + Profit (when the Selling Price and Profit Percentage are given)
According to the above questions :-
Direct Materials rims $20
Direct Labour rims $12
Overhead $21.30
Total cost is $53.30
Direct Materials posts $18
Direct Labour posts $6
Overhead $4.29
Total cost is $28.29
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