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SS2: FINANCIAL ACCOUNTING - 2ND TERM

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This is the total expenditure incurred in the production of output. This is obtained by taking into consideration the total expenses which relate to the manufacturing process. It includes prime cost and factory overhead.

Work in Progress

This consists of partly finished or work not yet completed. The opening work in progress must be added to the cost of production while closing stock of work in progress will be deducted.

Layout of Manufacturing Accounts

Screen Shot 2020 12 29 at 4.15.26 PM
Screen Shot 2020 12 29 at 4.18.50 PM

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