Use the following information to answer the given question

MANUFACTURING AND TRADING ACCOUNTS

$\begin{array}{c|c} & N & & N \\ \hline \text{Opening raw material} & 10,000 & \text{Manufacturing cost} & 114,000 \\ purchases & 60,000 \\ & \overline{70,000} & & \\ \text{Less: Closing raw material} & 8,000 & & \\ & \overline{62,000} & & \\ \text{Direct labour} & 20,000 & & \\ \text{Direct expenses} & 20,000 & & \\ \text{Factory overhead} & 12,000 & & \\ & \overline{114,000} & & \overline{114,000} \\ & & & \text{_______} \\ \text{Stock b/d} & \overline{10,000} & sales & X \\ Purchases & X & \text{Less sales returns} & 5,000 \\ \text{Manufacturing cost} & 114,000 & & \\ & \overline{144,000} & & \\ \text{Stock c/d} & 12,000 & & \\ & \overline{132,000} & & \\ \text{Gross profit 20% on sales } & \text{_______} & & \text{_______}\\ & X & & X \end{array}$

What is the prime cost?

Similar Questions

Which of the following accounts is not kept by a local government? ...

An example of input devices of a computer is ...

Which of the following is not true of revenue expenditure?  i. It is incurred in one period of...

Kwamenah bought goods worth Le 50,000 from Doe and Sons Limited on the following terms: 3% trade dis...

Opening capital ---10,800 Drawings----------- 2,500 Trade creditors ----2,560 Trade debtors -----...

Motor car costing N10,000 was depreciated at 20 per cent anuum by the diminishing balance method. Tw...

You add the following when starting with the balance as per cash book when preparing the bank reconc...

Which of the following is not a petty cash book item? purchase of ...

Sales--------------- 120,000 Purchase-----------100,000 Opening stock-----10,000 Closing stock---...

Which of the following is a signatory to federal government account? ...