Reference no: EM133066552
Question - Tipsy plc make and sell bottles of Lochnagar whisky. They have classified costs for their first month of business as follows
£
Advertising expenses 10,000
Direct materials 240,000
Sales team salaries 30,000
Depreciation on machinery in the production unit 10,000
Depreciation on fork lift trucks in the finished goods warehouse 2,000
Direct labour 50,000
Production supervisor costs 20,000
Service centre costs 80,000
£1 royalty payable on each bottle of whisky produced 80,000
Administration overheads 23,000
Other production overheads 70,000
The service centre spend 60% of their time supporting the production of the whisky, 10% of their time helping the joint selling & distribution department and the remainder of their time in administration.
During the month they sold 70,000 bottles of whisky at £15 per bottle.
Required - What was the total prime cost for the first month of business.
A £240,000
B £290,000
C £370,000
D £518,000
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