Question 5: Match the Column and write the answer in the front column. Column A Column B 1.Prime cost a. Cost of Production 1. plus opening stock minus closing stock 2.Factory Cost b. 2. Work cost plus Office and admin overhead 3.Cost of Production c. Cost of Goods sold plus selling and distribution overhead 3 4.Cost of Goods Sold 5.Cost of Sales d. Direct Material and Direct labour e. Prime Cost plus Factory Over head 5 Prepare a cost of goods sold statement for the textile company that purchased raw material with an amount 170,000 and incurred direct labor cost of 110,000 during the year ended December 31,2014. Factory overhead is applied to the production at the rate of 80 percent of direct labor cost. The inventory balances as below. If total amount of units manufactured are 2100 units. What will be a. The cost of 10 unit. b. Sale price per unit if profit are expected 100 per unit c. Cost of Goods available for sale d. Manufacturing cost January 1 December 31 Material $22,000 $20,000 Work in process $19,000 $17,000 Finished goods $13,000 $19,000