Question on: WAEC Accounting - 2001
Use the following information to answer the given question
\(\begin{array}{c|c} & N \ \hline \text{Opening stock of raw materials} & 8,000\ \text{Purchases} & 45,000 \ \text{Closing stock of raw materials} & 9,500 \ \text{Direct wages} & 6,450 \ \text{Indirect wages} & 2,800 \ \text{Depreciation - Plant and Machinery} & 3,200 \ \text{Factory rents and rates} & 350 \ \text{Opening work-in-progress} & 3,250 \ \text{Closing work-in-progress} & 3,750\end{array}\)
Factory cost of production is
\(\begin{array}{c|c} & N \ \hline \text{Opening stock of raw materials} & 8,000\ \text{Purchases} & 45,000 \ \text{Closing stock of raw materials} & 9,500 \ \text{Direct wages} & 6,450 \ \text{Indirect wages} & 2,800 \ \text{Depreciation - Plant and Machinery} & 3,200 \ \text{Factory rents and rates} & 350 \ \text{Opening work-in-progress} & 3,250 \ \text{Closing work-in-progress} & 3,750\end{array}\)
Factory cost of production is
A
N56,300
B
N53,000
C
N52,750
D
N45,500
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Correct Option: A
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