Accounts - Principles of Accounts
JAMB 1995
The following information is provided for amusa company limited , a manufacturer
Prime cost N999,000
Manufacturing overhead N132,000
Closing work in progress N75,000
values of finished goods transferred to the
trading account N1,116,000
If including in the manufacturing overhead were rents of N5,000 paid in advance, what is the opening work in progress for the period?
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A.
N85,000
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B.
N80,000
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C.
N70,000
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D.
N65,000
Correct Answer: Option D
Explanation
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