A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2011 · Q101 Mark

A manufacturing company incurred the following costs. manufacturing labour $ 350 000 raw materials purchased 230 000 opening inventory of raw materials 40 000 closing inventory of raw materials 50 000 factory overheads 400 000 What was the prime cost of production?

A$570 000

B$580 000

C$970 000

D$980 000

✓ Correct answer

A: $570 000

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2011 Paper 1 Variant 2, question 10.

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