A manufacturer produces a certain product at a labor cost of P 315 per unit, material cost of P 100 per unit, and variable cost of P 3 per unit. The monthly fixed cost is P 461,600. The item has a selling price of P 995. What is the profit or loss of selling 920 units? Select one: a. P 68,536 b. P 66,428 c. P 69,240 d. P 65,212

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Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.