WAEC Financial Accounting 2005 Question 43

The Accounts Department of a ministry had the following staff position on 31st December, 2004 (Post; Grade; Number in Post; Rate):
Chief Accountant; 15; 1; N371,748
Asst. Chief Accountant; 14; 2; N301,452
Principal Accountant; 12; 4; N243,732
Accountant I; 7; 6; N113,632
Clerk; 3; 10; N54,166
Additional information: (a) All employees are on the first step of their salary. (b) Allowances (Transport; Housing; Responsibility): Grade 12 and above – N24,000 per annum; N120,000 per annum; N30,000 per annum. Grade 1 to 7 – N13,200 per annum; N48,000 per annum; –
The total basic salary for the year was

1. A.N3,173,032
2. B.N3,048,000
3. C.N1,084,730
4. D.N855,600