A one year contract has been offered which will utilize an existing machine that is only suitable for such contract work. The machine cost GH¢25,000 five years ago and has been depreciated GH$4,000 per year on a straight line basis and thus has a book value of £5,000. The machine could be sold now for GH¢8,000 or in 1 years' time for GH¢1,000. Four types of material would be needed for the contract as follows; Units Material NAXM Y In Stock 1,200 200 3,000 1,800 Required for Contract 300 1,100 600 1,200 Price per Unit Purchase Current Current Buying- Resale in Price Price GH¢ GH¢ Price of Stock GH¢ 1.80 0.75 0.50 1.80 1.50 2.80 0.80 2.00 1.20 2.10 0.60 1.90 W and Z are in regular use within the firm. X could be sold if not used for the contract and there are no other uses for Y, which has been deemed to be obsolete. Required: What are the relevant costs in connection with the contract (ignoring the time value of money)?