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JAMB - Accounts Principles Of Accounts (2018 - No. 65)

  N
Direct material 2,500
Direct labour 5,000
Direct expenses 1,000
Overhead expenses 1,500

use the information contained in the table to anwser the qustion below;

  N
Direct material 2,500
Direct labour 5,000
Direct expenses 1,000
Overhead expenses 1,500

use the information contained in the table to anwser the qustion below;

  N
Direct material 2,500
Direct labour 5,000
Direct expenses 1,000
Overhead expenses 1,500

use the information contained in the table to anwser the qustion below;

from the data above, compute the prime cost. 
N6,500
N 8,500
N6,000
N7,500

Explanation

Prime cost is the direct cost of a commodity in terms of the materials and labour involved in its production, excluding fixed costs. from the table above, prime cos is derivrd thus; Prime cost = direct material + direct labour + direct expenses 

2,500+5,000+1,000=8,500

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