ABC manufactures and produces the gauntlet. The company incurs the following costs; Direct materials is 3.00...

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ABC manufactures and produces the gauntlet. The company incurs the following costs; Direct materials is £3.00 per gauntlet. It take 3 hours to produce the gauntlet and labour is paid at £7.00 an hour. Rent and bills for the space used to produce 800 gauntlets costs £750 per year. The company intend to make a 15% profit after all costs. Prepare a standard cost card for 1 gauntlet. Show your answers to 2 decimal places with no £ sign Standard Cost Card Direct £ Materials Direct £ Labour £ Prime Cost £ Overheads Total Cost £ Profit £ Selling Price ABC manufactures and produces the gauntlet. The company incurs the following costs; Direct materials is £3.00 per gauntlet. It take 3 hours to produce the gauntlet and labour is paid at £7.00 an hour. Rent and bills for the space used to produce 800 gauntlets costs £750 per year. The company intend to make a 15% profit after all costs. Prepare a standard cost card for 1 gauntlet. Show your answers to 2 decimal places with no £ sign Standard Cost Card Direct £ Materials Direct £ Labour £ Prime Cost £ Overheads Total Cost £ Profit £ Selling Price

Answer rating: 100% (QA)

Solution Direct Materials 3 Direct Labor 3 Hrs x 7 21 Prime Cost 24 O... View the full answer