b1 Examine the classified costs data of Cooper Ltd shown below.

Direct materials opening inventory	2,500
Direct materials purchases	20,000
Direct materials closing inventory	3,750
Direct labour	40,000
Direct expenses	10,000
Indirect production overheads	155,000
Work-in-progress opening inventory	5,625
Work-in-progress closing inventory	4,375
Sales	406,250
Finished goods opening inventory	10,625
Finished goods closing inventory	12,500
Indirect non-production overheads	133,125

Required:

Calculate production prime costs. (4 marks)

Calculate Factory Cost (3 marks)

Calculate Gross Profit (2 mark)

Calculate Net Profit (1 mark)

Note: show all workings.