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
Calculate the prime cost?
-
A.
N50 000
-
B.
N68 000
-
C.
N70 000
-
D.
N75 000
Correct Answer: Option B
Explanation
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