Accounts - Principles of Accounts Past Questions and Answers

The addition of prime cost, indirect cost and opening work- in-progress less the closing work-in-progress will result in cost of

The authority to transfer fund from one head to another within the same organization is called ____________

	₦
Manufacturing wages	42,000
Factory rent	880
Raw materials: Stock 1/1/16	1,000
Purchases	16,000
Stock 31/12/16	1,400
Depreciation of Plants and Machinery	800
Royalties	300
Indirect wages	18,000
General indirect expenses	620

Calculate the cost of raw materials consumed ____________