Applied Math: manufacturing costing question to assess COG's ie, Cost of Goods

Question

This is a manufacturing costing question:
I paid $600 for 4.44 liquid lbs of a product. I am using 1 1/2 oz in the bench product . How much is the cost of the bench product: 1 1/2 oz.? Also, the kit product uses 1/4 of the Bench Product. How many oz is used in the kit product & what is the cost of the kit product? What is the cost per oz for all?
This is a one time question. I just need the answer. I don't need to know how its done bcs I probably won't need it again. I just need the answer one time to find the COG's of the product. ei Cost of Goods. Thx Inventing Joy director of Product Development

Answer 1

There are 16 oz per lb, so multiply 16 oz by 4.44 lb = 71.04 oz.

Divide the number of oz. into the total cost to calculate the price per oz. = $600 / 71.04 oz. = $8.45/oz.

Bench product uses 1.5 oz = 1.5 oz x $8.45/oz = $12.68.

Kit product is 1/4 of Bench product = $12.68 / 4 = $3.17.

Also Kit product uses 1/4 of Bench product = 1.5 oz / 4 = .375 oz.