b) Calculate the selling price the hand-woven carpet based on the following information:

Direct Material Cost = 22000

Factory Overhead = 23 % of the prime cost

Selling Overhead = 10% of the manufacturing cost

Margin = 20 % of the total cost

The merchant hires Mr. Mubeen and his son for weaving the carpet. They agreed to receive 15000 to complete the job. They both spend total of 196 Hours on

the carpet and paid 15 rupees per hour for each of them, Rs 10 for Mr. Mubeen and 5 Rs for his son. Calculate the amount of piece-work premium and

share of Mr. Mubeen and his son separately.