O-LevelAccountingAccounting procedures7707/11 · May/June 2023 · Q291 Mark

Tim started a manufacturing business on 1 January. He provided the following information about his first year in business. $ closing inventory of finished goods 2060 closing work in progress 1840 factory overheads 15530 prime cost 70570 What was Tim's cost of production?

A$82 200

B$84 260

C$86 100

D$87940

✓ Correct answer

B: $84 260

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2023 Paper 1 Variant 1, question 29.

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