1. The following cost data for the year just ended pertain to Devere company, a greeting card manager:

	USD
Direct Material	2,100,000
Advertising expense	98,000
Depreciation on factory building	115,000
Direct Labour: wages	505,000
cost of finished goods inventory at year-end	115,000
indirect labour: wages	140,000
production supervisor's salary	47,000
service department cost	100,000
Direct Labour: Fringe benefits	87,000
Indirect labour: fringe benefits	31,000
Benefits for a production supervisor	10,000
total overtime premiums paid	55,000
Cost of idle time: production employees	40,000
administrative costs	150,000
office space for sales personnel	15,000
sales commissions	5,000
product promotion costs	10,000

* All services are provided to manufacturing departments.

*Cost of idle is an overhead item; it is not included in the direct-labour wages given above.

* the rental of sales space was made necessary when the sales office was converted to storage space for raw material.

Required:

Calculate each of the following costs for the year just ended:

a. total prime costs (2 marks)

b. total manufacturing overhead costs (3 marks)

c. total product costs (2 marks)

d. Total Period costs (3 marks)

e. list and describe five (5) important differences between managerial and financial accounting. (5 marks)