From the information given below you are required to:

Prepare a standard cost sheet for one unit and enter on the standard cost sheet the costs to show sub-totals for:

(i) prime cost

(ii) variable production cost

(iii) total production cost

(iv) total cost

The following data are given:

Budgeted/expected output for the year 9800 units

Standard details for one unit:

Direct materials 40 square metres at 5.30 per square metre

Direct wages:

Bonding department 48 hours at 2.50 per hour

Finishing department 30 hours at 1.90 per hour

Budgeted costs and hours per annum:

Variable overhead: () (hours)

Bonding department 375 000 500 000

Finishing department 150 000 300 000

Fixed overhead:

Production 392 000

Selling and distribution 196 000

Administration 98 000