cxc paper 2 Flashcards
1
Q
Production cost
A
+Direct materials
+Direct Labour
+Direct expenses
= Prime cost
+Factory overheads
= PRODUCTION COST
1
Q
Cost per unit
A
cost of production/ no. of units produced
2
Q
Current account DR
CR
A
Drawings
Interest on drawings
Interest on capital
share of profits
salary
3
Q
when current account is a Debit (b/d)
A
Deficit
4
Q
when current account is a Credit (b/d)
A
Surplus
5
Q
Current Liability for LC
A
Proposed dividend owing
6
Q
Less: Non-current Liability for LC
A
Debentures
