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.