WAEC Financial Accounting 1995 Question 34

The Department of Administration of Odi Naka Chukwu State Water Corporation has the underlisted staff position on 31st December, 1993.
Post | Grade | Number in post | Rate
Director of Audit | 16 | 1 | ₦200,000 x ₦20,000 – ₦300,000
Assistant Director (Audit) | 15 | 2 | ₦160,000 x ₦18,000 – ₦268,000
Asst. Chief Internal Auditor | 13 | 1 | ₦140,000 x ₦12,000 – ₦224,000
Internal Auditor II | 08 | 2 | ₦60,000 x ₦6,000 – ₦120,000
Higher Executive Officer (Audit) | 08 | 4 | ₦60,000 x ₦6,000 – ₦120,000
Note: (a) All employees are on the first step of their salary (b) Grade Level 12 and above: Housing Allowance ₦24,000 p.a, Transport Allowance ₦18,000 p.a.; 07 to 11: Housing ₦18,000 p.a., Transport ₦12,000 p.a.

The total basic salary for the period is

1. A.₦1,368,000
2. B.₦1,224,000
3. C.₦1,024,000
4. D.₦1,020,000
5. E.₦964,000.