Accounts - Principles of Accounts
JAMB 2005
Use the information below to answer questions
Direct labour...................N50 000
Beginning work-in-progress......N4 000
Raw materials used..............N18 000
Indirect labour.................N4 000
Ending finished goods...........N16 000
Ending work-in-progress.........N9 000
Factory supplies used...........N7 000
Selling expenses................N25 000
Beginning finished goods........N21 000
Other factory overheads.........N19 000
What is the cost of goods manufactured?
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A.
N117 000
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B.
N104 000
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C.
N97 000
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D.
N93 000
Correct Answer: Option D
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