JAMB Principles of Accounts 2004 Question 27

Use the information below to answer questions 26 and 27.
Materials consumed ₦16,600
Direct cost ₦5,400
Factory rent ₦2,300
Factory lighting ₦1,200
Cost of production to be transferred at cost plus 20% mark-up.
The market value of goods produced is

1. A.₦30,500
2. B.₦30,600
3. C.₦31,600
4. D.₦31,620