O-LevelAccountingPreparation of financial statements7707/12 · Oct/Nov 2013 · Q261 Mark

A business provided the following information at the end of its first year of trading. $ prime cost 280000 factory overheads 110000 closing work in progress 16000 What was the cost of production?

A$154000

B$186000

C$374000

D$406000

✓ Correct answer

C: $374000

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2013 Paper 1 Variant 2, question 26.

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