B) K Ltd manufactures Product 20K. Information relating to this product is given below. Budgeted output for the year: 900 units Standard details for one unit: Direct material 40 square metres at GHC5.30per square metre Direct wages: Bonding department 24 hours at GHC5.00 per hour Finishing department 15 hours at GHC4.80 per hour Budgeted costs and hours per annum are as follows: GHC Hours Variable overhead Bonding department 45.000 30,000 Finishing department 25,000 25,000 Fixed overhead apportioned to this product: Production 36,000 Selling, distribution and administration 27,000 Note: Variable overheads are recovered (absorbed) using hours, fixed overheads are recovered on a unit basis. Required: Prepare a standard cost card in order to establish the standard cost of one unit of Product 20K and enter the following subtotals on the card: (0) Prime cost (ii) Marginal cost (iii) Total absorption cost (iv) Total standard cost. (20 Marks)