Question: It has been established that goods produced are marked up by 20% in the factory. Prime Cost 550,000 Factory General Expenses 160,000 Indirect Material 50,000

It has been established that goods produced are marked up by 20% in the factory. Prime Cost 550,000 Factory General Expenses 160,000 Indirect Material 50,000 Wages [ 60% Indirect, 40% Admin]. 150,000 Admin Expenses 70.000 Opening Work in Progress 65.000 Closing Work in Progress 40,000. How much would be shown as factory profits for the year

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