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WAEC Financial Accounting 2008 Question 7

Question 7

Manufacturing Accounts

In the preparation of manufacturing accounts, prime cost plus factory overheads equal to cost of

  1. A.materials available
  2. B.production
  3. C.sales
  4. D.materials used.
Show the answer and explanation

Answer: B (production)

Explanation

Prime cost + overheads = cost of production.