No. 1. The following information is obtained from the accounts of Tiger Manufacturers LTD, for...
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Accounting
No. 1. The following information is obtained from the accounts of Tiger Manufacturers LTD, for the year ended 30 November 2000 in respect of their product Z: Direct materials sh100,000 Direct labour 80,000 Direct expenses 35,000 Indirect factory costs 55,000 Administration costs 30,000 Distribution costs 30,000 Selling expenses 25,000 The following additional information is provided: 1. During the year ending 30 November 2000, prime cost will rise by 15%. 2. Indirect factory costs will rise by 10%. 3. Administration costs, distribution costs and selling expenses will each rise by 5%. 4. The company expects to make 20% profit on the selling price of product Z. Required: Prepare a statement for the year ending 30 November 2000 to show: 1. Prime cost 2. Overheads 3. Total cost of product Z 4. Selling price of product Z
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