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Show the total cost of goods produced

Assignment Help Cost Accounting
Reference no: EM132561017

The following information relates to cost estimates for production of item Z.

SHS

Direct materials 100,500

Direct wages 18,500

Direct expenses 5,000

Indirect factory costs 20,000

Administration costs 18,000

Distribution costs 7,000

Selling expenses 6,000

Profit 25% on selling price

Required:

Question 1: statement to show:

(i) Prime cost

(ii) Production cost

(iii) Total cost of goods produced

(iv) The selling price of item 'Z'

Reference no: EM132561017

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