Use the following information to answer given question
Use the following information to answer given question
₦Opening stock of raw materials24,750Purchases of raw materials129,640Carriage on raw materials10,000Closing stock of raw materials45,000Factory supervisor's salary30,000Wages of factory hands50,000Royalties paid18,000Insurance of factories62,000Work-in-progress(opening)23,000Raw material returned12,200
The prime cost is
₦152,190
₦199,190
₦169,190
₦146,190
Correct answer is A
Prime cost is the total of all direct cost incurred during production.
Direct material + direct labour+ direct cost
129,640 + 24750 + 10,000 - 12,000 = 152190
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