Week 3 Activities Solution QUESTION 1: Given below is a list of costs: Max Furniture Company manufactures wooden chairs and reported the following costs for January 2024: COST ITEM AMOUNT (AED) Salary of the Sales Manager 40,000 Sales Commission 35,000 Wages of workers who manufacture the 240,000 chairs Factory's Insurance 15,000 Advertising Cost 28,000 Salary of Factory Supervisor 30,000 Rent of Company's Headquarter 50,000 Building Cost of Painting Chairs 45,000 Wood 300,000 Company's top management's travel 80,000 Required: Calculate the below cost for each category. Show all your calculations and formulas. 1. Product Cost 2. Period Cost 3. Prime Cost 4. Conversion Cost 5. Variable Cost Per Unit, if no. of Units sold are 10,000: 6. Total Fixed Cost if 10,000 units were sold: