Manufacturing Accounts - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 51:

• JAMB 2010

The gross loss on manufacturing is always transferred to the?

A. Credit side of balance sheet
B. Debit side of profit and loss account
C. Credit side of profit and loss account
D. Debit side of balance sheet

Question 52:

• JAMB 2010

The depreciation on a motor vehicle that is being used for manufacturing and administration is charged to the?

A. Debit side of manufacturing and profit and loss account
B. Debit side of profit and loss account only
C. Credit side of profit and loss account only
D. Debit side of manufacturing and balance sheet

Question 53:

• JAMB 2010

The prime cost is the total of the?

A. Production cost + selling expenses
B. Direct material + direct labour + direct expenses
C. Direct material + work overhead expenses
D. Administrative expenses + selling + distribution expenses

Question 54:

• JAMB 2011

The cost that are directly traceable to the the goods being produced is?

A. Party manufactured goods
B. Overhead cost
C. Total factory expenses
D. Prime cost

Question 55:

• JAMB 2011

The product cost that does not form part of the product but is incidental to product and facilitates the production activities is the?

A. Prime cost
B. Indirect cost
C. Total cost
D. Direct cost