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 factory cost of production?

Similar Questions

The source documents include? ...

If a 10% dividend is approved, what is the dividend payable to ordinary shareholders? ...

Rent prepaid - 1/01/2014 - N600 Rent paid - 31/12/2014 - N3,000 Rent prepaid - 31/12/2014 - N400. ...

Recurrent expenditure of a local government include ...

Drawings made by a partner would be ...

The current growth in the volume of trading and financial dealings in Nigeria is helped by? ...

\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accoun...

Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...

Given: Liabilities..............N23,700 Current assets...........N20,300 Fixed assets...............

What does liquidity ratio measure? ...