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The following data are given for product DRIM69 Budgeted output for the year: 9800 units...

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Accounting

The following data are given for product DRIM69

Budgeted output for the year: 9800 units

Standard details for one unit:

Direct materials: 40 square metres at K5.30 per square metre

Direct wages:

Bonding department 48 hours at K12.50 per hour

Finishing department 30 hours at K7.60 per hour

Budgeted costs and hours per annum:

Variable overhead: (K) (hours)

Bonding department 375000 500000

Finishing department 150000 300000

Fixed overhead: (K)

Production 392000

Selling and distribution 196000

Required:

A. Prepare a standard cost sheet for one unit and enter on the standard cost sheet the costs to show sub-totals for:

(a) prime cost [4 Marks]

(b) variable production cost [4 Marks]

(c) total production cost [4 Marks]

(d) total cost [4 Marks]

B. Calculate the selling price per unit allowing for a profit of 15 per cent of the selling price. [5 Marks]

C. Calculate the amount of the profit per unit. [4 Marks]

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