Pick one product. Give name to it

1.Prepare a monthly cost statement of your product to estimate the total cost for a month. Estimate how many unit you want to produce in a month and how much the costs will incur for production, administrative and selling & distribution purpose.

The following costs should incur to produce the product:

i. Direct costs = Direct material, direct labour and direct expenses

ii. Indirect cost = Indirect material, indirect labour and indirect expenses

iii. Other costs based on function = Administrative costs, selling and distribution costs, marketing costs etc.

iv. Variable costs/fixed costs

*Provide explanation of each type of costs incurred.

2. Calculate the total cost per unit

3. Set a selling price per unit of the product (indicate the percentage of profit margin).