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

Question 71:

• JAMB 2018

Which of the following is a conversion cost?

A. Factory overhead
B. Purchases
C. Material cost
D. Wages

Question 72:

• JAMB 2018

	N
Direct material	2,500
Direct labour	5,000
Direct expenses	1,000
Overhead expenses	1,500

use the information contained in the table to anwser the qustion below;


from the data above, compute the prime cost.

A. N6,500
B. N 8,500
C. N6,000
D. N7,500

Question 73:

• JAMB 2018

lubricating oil and spare parts of machines are example of?

A. Indirect expense
B. Direct expense
C. Indirect material
D. Direct material

Question 74:

• 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

Question 75:

• 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

A. 220,480
B. 213,480
C. 200,480
D. 190,000