- 1 Marks
FA – May 2013 – L1 – SA – Q9 – Financial Statements Preparation
This question involves calculating the closing work-in-progress for a company.
Question
The following information relates to Ablaze Limited for the year ended 31 December 2012:
Prime cost: N122,000
Factory/production overheads: N185,000
Opening Work-in-progress: N40,000
Factory cost of goods completed: N300,000
What is the closing work-in-progress?
A. N47,000
B. N56,000
C. N66,000
D. N80,000
E. N100,000
Find Related Questions by Tags, levels, etc.
- Tags: Accounting, Factory Cost, Work in Progress
- Level: Level 1
- Topic: Financial Statements Preparation
- Series: MAY 2013
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