Use the information below to answer this question.
...Use the information below to answer this question.
Raw materials jan.5,000Raw materials dec.5,800Purchase of raw materials45,000Salary61,000Factory lubricant2,050plant depreciation1,300Factory insurance1,250
The prime cost for the company is
N169,200
N44,200
N55,800
N230,200
Correct answer is A
The prime cost are direct cost,direct material cost, direct labour cost and direct expenses.
Therefore:
Raw materials (jan)5000
Add purchases 45,000
Less raw materials (dec) 5,800
Cost of raw materials consume 44,200
Prime cost 169,200
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