Gce Model Questions Vol1 2019 Financial Accounting Question 50

A manufacturing company prepares a statement of cost of production for March with the following data:\n- Opening Work‑in‑Progress (WIP) inventory: \(8,500\) (cost composition: 40 % materials, 35 % labour, 25 % overhead).\n- Closing WIP inventory: \(9,200\) with the same composition percentages.\n- Raw materials purchased: \(15,600\); closing stores at month‑end contain \(2,400\).\n- Direct labour incurred: \(9,800\).\n- Manufacturing overhead is applied at 150 % of direct labour cost.\n- Finished goods transferred to the finished‑goods account during the month: \(28,500\).\n- An overhead cost of \(1,200\) was omitted from the overhead application calculation.\nDetermine the correct total cost of production for March, taking into account the omitted overhead and the changes in WIP and stores. Give your answer to the nearest pound.