WAEC Financial Accounting 1993 Question 48

Purchases: raw materials ₦20,000; finished goods ₦15,200
Stock 1/1/89: raw materials ₦3,000; work-in-progress ₦2,500
Wages: direct ₦22,800; indirect ₦7,200
Factory expenses: electricity ₦12,000; insurance ₦2,000
Stock 31/12/89: raw materials ₦4,000; work-in-progress ₦4,500

The cost of manufactured goods is

1. A.₦67,500
2. B.₦65,500
3. C.₦65,000
4. D.₦63,000
5. E.₦61,000.