JAMB Accounting 2008 Objective — Question 30

Question 30 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2008 Objective paper, with the correct answer and a full explanation.

Calculate the prime cost

A. #597,000
B. #579,000
C. #576,000Correct
D. #567,000

Explanation

Prime cost = Cost of raw materials consumed + Wages = 150,000+420,000+3,000(royalties) = N576,000 (per the trading account calculation).

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