Preparation of manufacturing account - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 46:

• JAMB 2013

Opening stock of raw materials - #75,000
Purchase of raw materials - #330,000
Closing stock of raw materials - #80,000
Direct wages - #30,000
Carriages of raw materials - #10,000
Calculate the cost of raw materials used

A. #495,000
B. #415,000
C. #325,000
D. #305,000

Question 47:

• JAMB 2013

Purchase of raw materials - #330,000
Closing stock of raw materials - #80,000
Direct wages - #30,000
Carriages of raw materials - #10,000
Determine the prime cost

A. #525,000
B. #515,000
C. #465,000
D. #370,000

Question 48:

• JAMB 2015

Prime cost is one of the following

A. Expenses which can be identified with an allocated to cost centers
B. Aggregate direct material cost, direct labour cost and variable direct expenses
C. The cost taken into account in the production process whether direct or indirect
D. The cost of commodities supply to an undertaking

Question 49:

• JAMB 2017

In manufacturing account, depreciation of office machine is charged to

A. Trading account
B. Appropriation account
C. Balance street
D. Profit and loss account

Question 50:

• JAMB 2019

Use the following Information to answer this question.

Stock of finished goods: Jan 1stDec 31stStock of Raw materials: Jan 1stDec 31stPurchase of Raw MaterialsManufacturing WagesDepreciation: Factory equipmentDirect expensesFactory FuelCarriage inwards on Raw Materials

₦50,64071,38032,16029,640145,00052,00016,50012,5007,0007,000

Cost of raw materials consumed is


A. ₦53,000
B. ₦150,000
C. ₦152,120
D. ₦148,120