Question

Calculate GVAfc

(i) Units of output sold	1000
(ii) Price per unit of outpu	30
(iii) Depreciation	1000
(iv) Intermediate cost	12,000
(v) Closing Stock	3000
(vi) Opening stock	2000
(vii) Excise duty	2500
(viii) Sales tax	3500

Answer 1

GVOmp = sales + change in stock 

 = (1000 x 30) + ( 3000 – 2000) 

 = 30000 + 1000 

= 31000 GVAfc = GVOmp – IC - NIT 

 = 31000 – 12000 - 6000 

GVAfc = 13000