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No. 1. The following information is obtained from the accounts of Tiger Manufacturers LTD, for the year ended 30 November 2000 in respect of their
No. 1. The following information is obtained from the accounts of Tiger Manufacturers LTD, for the year ended 30 November 2000 in respect of their product Z: Direct materials sh100,000 Direct labour 80,000 Direct expenses 35,000 Indirect factory costs 55,000 Administration costs 30,000 Distribution costs 30,000 Selling expenses 25,000 The following additional information is provided: 1. During the year ending 30 November 2000, prime cost will rise by 15%. 2. Indirect factory costs will rise by 10%. 3. Administration costs, distribution costs and selling expenses will each rise by 5%. 4. The company expects to make 20% profit on the selling price of product Z. Required: Prepare a statement for the year ending 30 November 2000 to show: 1. Prime cost 2. Overheads 3. Total cost of product Z 4. Selling price of product Z
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