Z Co. is manufacturing company. The costs of the company occurred in March 2020 are as follows:

COSTS	TOTAL (TL)
Material Costs - Direct Material Cost - Indirect Material Cost	60.000 50.000 10.000
Labor Cost - Direct Labor Cost - Indirect Labor Cost	90.000 60.000 30.000
Electricity and Water Cost	15.000
Depreciation Cost	20.000
Rent Cost	30.000
TOTAL	205.000

2/3 of the labor costs and electricity-water costs are variable; the remainder is fixed costs. Material, rent and depreciation costs do not vary according to the volume of production. The annual production capacity of the company is 120.000 m3 of products. Company produced 8.000 m3 in March.

REQUIRED: Determine the production cost on the base of full, normal, variable, and prime costing methods. Present the production cost in financial statements (prepare Income Statement and Balance Sheet).

5. Z Co. is manufacturing company. The costs of the company occurred in March 2020 are as follows: COSTS TOTAL (TL) Material Costs 60.000 - Direct Material Cost 50.000 - Indirect Material Cost 10.000 Labor Cost - Direct Labor Cost - Indirect Labor Cost 90.000 60.000 30.000 Electricity and Water Cost 15.000 Depreciation Cost 20.000 Rent Cost 30.000 TOTAL 205.000 2/3 of the labor costs and electricity-water costs are variable; the remainder is fixed costs. Material, rent and depreciation costs do not vary according to the volume of production. The annual production capacity of the company is 120.000 m of products. Company produced 8.000 min March. REQUIRED: Determine the production cost on the base of full, normal, variable, and prime costing methods. Present the production cost in financial statements (prepare Income Statement and Balance Sheet)