WAEC Past Questions and Answers - Page 1231

"Financial statements do not a disclose all information users need to know about a firm" This is the concept of

Use the following information to answer the given question

\(\begin{array}{c|c} & D\\ \hline \text{Purchase of raw materials} & 236,500\\ \text{Returns of raw materials} & 4,750\\ \text{Carriage on raw materials} & 44,000\\ \text{Stock of raw materials at close} & 39,500 \\ \text{Factory fuel} & 3150,000\\ \text{Direct wages} & 205,000\\ \text{Indirect wages} & 31, 250\\ \text{Factory power} & 105,000\\ \text{Work-in-progress at start} & 32,500\end{array}\)

The total factory overhead is

Use the following information to answer the given question

\(\begin{array}{c|c} & D\\ \hline \text{Purchase of raw materials} & 236,500\\ \text{Returns of raw materials} & 4,750\\ \text{Carriage on raw materials} & 44,000\\ \text{Stock of raw materials at close} & 39,500 \\ \text{Factory fuel} & 150,000\\ \text{Direct wages} & 205,000\\ \text{Indirect wages} & 31, 250\\ \text{Factory power} & 3105,000\\ \text{Work-in-progress at start} & 32,500\end{array}\)

What is the prime cost???

\(\begin{array}{c|c} & D\\ \hline \text{Purchase of raw materials} & 236,500\\ \text{Returns of raw materials} & 4,750\\ \text{Carriage on raw materials} & 44,000\\ \text{Stock of raw materials at close} & 39,500 \\ \text{Factory fuel} & 150,000\\ \text{Direct wages} & 205,000\\ \text{Indirect wages} & 31, 250\\ \text{Factory power} & 3105,000\\ \text{Work-in-progress at start} & 32,500\end{array}\)

What is the value of raw materials used?

A document which acknowledge that a company owes a person a stated sum of money with an agreement to pay a fixed rate of interest periodically is