Materials consumed……………….N16,600
Direct cost……………………..N5,400
Factory rent…………………….N2,300
Factory lighting…………………N1,200
Cost of production to be transferred at cost plus 20% mark-up.
A. N30,500
B. N30,600
C. N31,600
D. N31,620
Correct Answer:
Option B – N30,600
Regulatory Framework of Accounting and Key Accounting Bodies
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Comprehensive Notes on Accounting Policies and Fundamental Concepts
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Comprehensive Response to IAS 16 and Event Classification Questions
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Responsibilities Of International Accounting Standard Board (IASB) - Purpose of The Conceptual Framework
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Fundamental Accounting Concept As Broad Assumption - General Accepted Accounting Principles
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