Standard Manufacturing Cost Elements Quantity Price Cost Direct materials Tips (boxes of 500 Translucent barrels and caps (boxes of 500 Fluorescent Ink (5 litre container) $32.00 500 500 Slitre X $0.03 X $0.09 X $6.40 = $15.00 $45.00 Total direct material Direct labour Overhead Total cost of production 0.25 hours X $9.00 0.25 hours X $48.00 = $92.00 $2.25 = $12.00 = $106.25 Standard Manufacturing Cost Elements Quantity Price Cost Direct materials Tips (boxes of 500 Translucent barrels and caps (boxes of 500 Fluorescent Ink (5 litre container) $32.00 500 500 Slitre X $0.03 X $0.09 X $6.40 = $15.00 $45.00 Total direct material Direct labour Overhead Total cost of production 0.25 hours X $9.00 0.25 hours X $48.00 = $92.00 $2.25 = $12.00 = $106.25