A company is producing a good, which has the following production expenses:

Direct material expenses:$40,000

Direct labor expenses:$20,000

General production expenses:

Variable:$10,000

Fixed:$12,000

General administrative expenses: $22,000

The production capacity of the company is 10,000 units. The number of units produced in the period is 6,000 units. What is the total cost of the produced goods? (Hint: use normal costing method according to IAS 2 Inventories standard.)

(Please show your all your work and steps with explanation)

Note: shaw hand calculation steps DON'T do it on EXCEL!