Answer to Question #109639 in Accounting for hamid

Question

A company calculates the prices of jobs by adding overheads to the prime cost and then adding 30% to the total costs as a profit mark–up. Job number Y was sold for £1,690 and incurred overheads of £694.

What was the prime cost of the job?

Answer 1

prime cost = 1690 - 30% - 694

prime cost = £489