WAEC Financial Accounting 2002 Question 11

Raw Materials: Stock 1/1/2000 N4,500; Purchases N30,000; Stock 31/12/2000 N6,000
Wages: direct N34,200; indirect N10,800
Factory expenses: rent N18,000; insurance N3,000
Work-in-progress: 1/1/2000 N3,750; 31/12/2000 N6,750
The cost of goods manufactured is

1. A.N101,250
2. B.N98,250
3. C.N94,500
4. D.N91,500.