The following data relate to the manufacture of a standard product during the month of March 2010:
Raw materials:
Opening stock................30,000
Purchases......................70,000
Closing stock..................20,000
Wages........................1,20,000
Works on cost, 50% of wages; office on cost, 20% on works cost; selling on cost, 10% of works cost; profit, 20 on sales; and number of units produced, 10,000. Prepare a statement showing the total cost and profit.