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

Question 51:

• JAMB 2019

The manufacturing account is prepared to ascertain

A. Cost of goods sold
B. Cost of production
C. Gross profit
D. Finished goods

Question 52:

• JAMB 2019

Which of the following is not charged to manufacturing account?

A. Direct expenses
B. Factory wages
C. Distribution expenses
D. Raw materials

Question 53:

• JAMB 2021

Given:

Depreciation of plant and machineryFactory rentIndirect wagesGeneral indirect expensesLubricantsCarriage inwardsFactory powerBank chargesCarriage outwards

₦1,600 650 695 7261,235 829 350 6122,900

Determine the total factory overhead cost

A. ₦4,485
B. ₦6,085
C. ₦6,556
D. ₦5,256