Here comes an other Question:

Data: ABC Company is submitting a bid to produce 11,250 ceramic plates. The company estimates that the cost of materials will be Rs.13,000 and labor cost Rs.15,000. Factory overhead is applied at Rs.2.70 per direct labor hour in the Molding Department and at 35% of the direct labor cost in the Decorating Department. They estimate that 1,000 direct labor hours at a cost of Rs.9,000 will be required in Molding Department. The company expects a mark up of 45% of its total production cost.

Required:
Determine the following:
1) Estimated cost to produce.
2) Estimated prime cost.
3) Estimated conversion cost.
4) Bid price.




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