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JAMB Principles of Accounts 2011 Question 27

Question 27

Manufacturing Accounts

The costs that are directly traceable to the goods being produced is

  1. A.partly manufactured goods
  2. B.overhead cost
  3. C.total factory expenses
  4. D.prime cost.
Show the answer and explanation

Answer: D (prime cost.)

Explanation

Prime cost is the total of direct costs that can be traced to the product.