Question: The data below have been extracted from the budget document of Gakpe Carpentry shop:Labour hours for the year 2 0 0 , 0 0 0

The data below have been extracted from the budget document of Gakpe Carpentry shop:Labour hours for the year200,000Machine hours for the year408,000Direct material cost for the yearGH25,500Direct wages for the yearGH12,240Overheads for the yearGH43,860Units produced180,000You are required to: (a)Calculate the following overhead absorption rates: (i)labour hour rate(iv)direct wage percentage(1)machine hour rate(V)direct material percentage(ili)rate per unit(VI)prime cost percentage(b)Using each of the overhead rates calculated in (a) above, calculate the cost of a cost unit which had the following details:Direct materialsGH510Direct wagesGH244.80Direct labour hours3,900 Machine hours8,100

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