Reference no: EM132511033

The following cost data for the current year relate to NTU Technologies Ltd.

Administrative costs $150,000

Advertising expense $99,000

Cost of idle time: production employees $40,000

Depreciation on factory building $115,000

Direct labour wages $580,000

Direct material purchased $2,100,000

Indirect labour wages $140,000

Indirect labour: CPF & other benefits $30,000

Direct Labour: CPF & other benefits $95,000

CPF & other benefits for production supervisor $9,000

Product promotion costs $10,000

Production supervisor's salary $45,000

Rental of office space for

sales personnel $15,000

Sales commissions $5,000

Manufacturing support service department $100,000

cost

Total overtime premiums paid $55,000

Raw materials inventory, 31 December 2019 $135,600

Raw materials inventory, 1 January 2019 $190,400

Work in process, 31 December 2019 $242,600

Work in process, 1 January 2019 $218,800

Finished goods, 31 December 2019 $105,800

Finished goods, 1 January 2019 $73,600

Required:

Question (a) Categorise the above costs and calculate each of the following costs for the year:

(i) Direct material used.

(ii) Total prime costs.

(iii) Total manufacturing overhead costs.

(iv) Total conversion costs.

(v) Cost of goods manufactured.

(vi) Total period costs.

(vii) Cost of goods sold