Accounts - Principles of Accounts Past Questions and Answers

When the factory cost of production has been ascertained, manufactured goods are transferred to trading account by?

The difference between the factory cost of production and the prime cost of production is?

Use the information below to this question
Cost of raw materials consumed 300,600
Carriage inwards 6,700
Returns of raw materials 10,800
Closing stock of raw materials 100,250
Manufacturing wages 27,000
Lighting, power, insurance and rent
relation to the factory are
apportioned 1/3,2/5, 1/6 and 17
with totals N30,000; N 75,000; N36,000 and N 56,000 respectively.
What is the cost of the opening raw materials?

Use the information below to this question Cost of raw materials consumed 300,600 Carriage inwards 6,700 Returns of raw materials 10,800 Closing stock of raw materials 100,250 Manufacturing wages 27,000 Lighting, power, insurance and rent relation to the factory are apportioned 1/3,2/5, 1/6 and 17 with totals N30,000; N 75,000; N36,000 and N 56,000 respectively.
The production cost of finished goods is

Costs that vary in proportion to the level of production in a manufacturing environment are known as?