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  ₦ Manufacturing wages 42000 Factory rent 880 Raw materials: Stock 1/1/16 1000 Purchases 16000...

Accounts - Principles of Accounts
JAMB 2023
 

₦

Manufacturing wages

 42000

Factory rent

 880

Raw materials: Stock 1/1/16

 1000

Purchases

 16000

Stock 31/12/16

 1400

Depreciation of Plants and Machinery

 800

Royalties

 300

Indirect wages

 18,000

General indirect expenses

 620

The prime cost is

  • A. ₦57,900
  • B. ₦42,000
  • C. ₦45,000
  • D. ₦78,200
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Correct Answer: Option A
Explanation

Prime cost = Cost of raw materials consumed + Manufacturing wages + Royalties
= 15600 + 42000 + 300
= ₦57,900

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts