Question Tag: Profit Margins
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MI – Nov 2020 – L1 – SA – Q4 – Costing Techniques
Calculation of the prime cost of a job given the overheads and selling price.
Question
A company calculates the prices of jobs by adding overheads to prime cost and adding 30% to total costs as profit margin. A job was sold for N1,690,000 and incurred overheads of N694,000. The prime cost of the job is:
A. N489,000
B. N606,000
C. N996,000
D. N1,300,000
E. N1,400,000
Find Related Questions by Tags, levels, etc.
- Tags: Job Costing, Overheads, Prime Cost, Profit Margins
- Level: Level 1
- Topic: Costing Techniques
- Series: NOV 2020
- 1 Marks
MI – Nov 2020 – L1 – SA – Q4 – Costing Techniques
Calculation of the prime cost of a job given the overheads and selling price.
Question
A company calculates the prices of jobs by adding overheads to prime cost and adding 30% to total costs as profit margin. A job was sold for N1,690,000 and incurred overheads of N694,000. The prime cost of the job is:
A. N489,000
B. N606,000
C. N996,000
D. N1,300,000
E. N1,400,000
Find Related Questions by Tags, levels, etc.
- Tags: Job Costing, Overheads, Prime Cost, Profit Margins
- Level: Level 1
- Topic: Costing Techniques
- Series: NOV 2020
