JAMB Accounting 2017 Objective — Question 40

Question 40 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2017 Objective paper, with the correct answer and a full explanation.

The difference between prime cost and cost of goods manufactured is the

A. A. factory overheadCorrect
B. B. cost of goods produced
C. C. factory depreciation
D. D. cost of raw materials used

Explanation

Cost of goods manufactured = Prime cost + Factory overhead. So the difference between the two is the factory overhead.

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