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b) Classify the expenses below to the appropriate cost terms making sure each term is used only once. As a Cost and M anagement A
b) Classify the expenses below to the appropriate cost terms making sure each term is used only once. As a Cost and Management Accounting student, you are to apply the appropriate costing terminology to explain the expenses incurred by Andes Manufacturing and Mining Company.
1) The wages of the supervisor of Andes company is GH300 per unit of Gold extracted.
2) The Andes produce machinery for the mines. These machines are made from special metal. The cost of a unit of the metal appropriate for producing each machinery is GH4,500
3) The cost of changing raw mineral to become end product which can be worn occasionally is GH1,230.
4) The end product is moved from the factory to sales department by worker Obina at a monthly wage of GH 500
5) The wear and tear cost of the machines used in making the mineral totals GH 7,390 per annum
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