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A computer manufacturer produces three types of devices:mobile phones, tablets, and computers. For the production of these three devices you have the following information:
Phone
Tablet
Computer
Material cost per unit
£90
£140
£315
Direct labor hours per unit
2
2.5
4
Budgeted units
1,500,000
900,000
1,200,000
Labor cost per hour
£8
Overhead costs per annum
Utilities
£20,000,000
Rent
£15,000,000
Audit and legal
£5,000,000
Administrative staff
£40,000,000
Total
£80,000,000
ABC analysis suggested that overhead costs are distributed to the three products according to the table below:
Overheads
£8,000,000
£7,000,000
£8,250,000
£2,250,000
£4,500,000
£2,900,000
£1,250,000
£850,000
£23,200,000
£6,000,000
£10,800,000
For each of the three products, the company aims at a different percentage for profit. Under the full absorption costing method and the targeted profit percentage, the prices of the three products should be:
Full costing price
£170.69
£233.87
£435.67
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