₦ 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 R...

Assessment: JAMB UTME - Principles of Accounts - 2023 Subject: Financial Accounting

Question 1 Report

₦
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

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

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning