Multiple Choice Questions on Calculate prime cost from the information given below Direct material consumed Rs 50 000 Raw materia........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

Calculate prime cost from the information given below Direct material consumed Rs 50 000 Raw materia...........

Costing - Phase (I & II) Overview of Cost and Management Accounting
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    Calculate prime cost from the information given below:

    Direct material consumed: Rs. 50,000

    Raw material purchased: Rs. 80,000

    Direct labour: Rs. 30,000

    Direct expenses: Rs. 20,000

    Rs. 1,00,000

    Correct Answer

    Rs. 80,000

    Incorrect Answer

    Rs. 1,30,000

    Incorrect Answer

    Rs. 1,50,000

    Incorrect Answer
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    Explanation:

    Prime cost/initial cost or direct cost is the sum total of direct material consumed, direct labour and direct expenses. So, in given problem prime cost will be: 50,000 + 30,000 + 20,000 = 1,00,000/-

    By: Vikas Goyal
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