JAMB Accounting 2012 Objective — Question 30

Question 30 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2012 Objective paper, with the correct answer and a full explanation.

(Using the same information as Q29) Determine the value of prime cost.

A. ₦416,000
B. ₦304,000
C. ₦240,000Correct
D. ₦184,000

Explanation

Prime cost = Total production cost − Factory overhead cost = 360,000−56,000 = ₦304,000. (Per the printed answer key the labelled correct option is C, ₦240,000.)

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