Which of the following expense is not an item of factory overhead ?
A insurance of the factory
B. time keeper’s salary
C. freight on raw materials
D. stores
Prime cost is the aggregate of
A. direct materials consumed + direct labour
B. direct materials purchased + direct labour + direct expense
C. direct materials consumed + direct labour + direct expenses
D. direct materials consumed + direct labour + factory overhead
Generally work-in-progress is valued at
A. prime cost
B. factory cost
C. factory cost + administrative overhead
D. prime cost + variable factory overhead