Q1 The Standard Cost Card of product No: 105 is given below for your reference.

The Direct Material cost for Material X for 8 Kg. at the rate of OMR 4 per Kg;

Material Y 15 liters at the rate of OMR 4 per litre. The Direct Labour cost for Grade A and Grade B is observed to be 5 Hours at OMR 3 per Hour and 7 Hours at OMR 5 per Hour. The Variable Production Overheads for 14 hours at the rate of OMR 1 per hour. The Fixed Production Overhead for 14 hours at OMR 3.5.00 per hour. The cost involved for Administrative and Marketing Overheads was OMR 45. The standard profit involved is 15% on sales.

Required:

1. Standard price per product

2. If variable overheads are 30% of standard prime cost ,what will be the standard price for 100 units?