The following production costs were incurred during one month operation of Smiley Teddy Ltd in production...

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The following production costs were incurred during one month operation of Smiley Teddy Ltd in production of 10000 smiley teddy bears: Transactions Amount $ Raw materials 28 000 Wages- productive time 16 000 Wages-non-productive time 2 300 Electricity 1 100 Depreciation-plant and machinery 4 250 Rent 2 500 Supervisor's salary 3 000 Maintenance costs 500 Cleaning materials 350 Components used 3 700 Security officer's salary 820 Required: Calculate the followings: a) Prime cost b) Conversion cost c) Total product cost d) Cost 1 teddy bear The following production costs were incurred during one month operation of Smiley Teddy Ltd in production of 10000 smiley teddy bears: Transactions Amount $ Raw materials 28 000 Wages- productive time 16 000 Wages-non-productive time 2 300 Electricity 1 100 Depreciation-plant and machinery 4 250 Rent 2 500 Supervisor's salary 3 000 Maintenance costs 500 Cleaning materials 350 Components used 3 700 Security officer's salary 820 Required: Calculate the followings: a) Prime cost b) Conversion cost c) Total product cost d) Cost 1 teddy bear

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To calculate the required values lets break down the costs as follows a Prime Cost Prime cost includ... View the full answer