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

Question 41:

• JAMB 2006

Use the information below were to answer questions
...................Stationary Dept.............Video Dept.
Sales ..............N10,600.....................N15,175
Cost of goods sold..N5,247......................N6704
The expenses incurred were rent N4500, motor repairs N1200 and telephone N900.
The basis of cost apportionment is 1/2 stationary 1/3 video.
Find the total expenses allocated to the stationary department?

A. N3600
B. N1400
C. N4400
D. N3800

Question 42:

• JAMB 2006

Stock 1/1/2002..................................N40 000
Goods received from head office.................N800 000
Goods returned to head office...................N34 000
Sales...........................................N916000
Stock 31/12/2000................................N72 000
From the data above determine the cost of goods credited to the head office trading account.

A. N766 000
B. N840 000
C. N734 000
D. N806 000

Question 43:

• JAMB 2006

Use the information below to answer question .
Prime cost..................N12 100
lighting....................N10 000
Heating.....................N15 000
Factory overhead............?
The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively.
The factory overhead is?

A. N5050
B. N7250
C. N2750
D. N5500

Question 44:

• JAMB 2006

Use the information below to answer question .
Prime cost..................N12 100
lighting....................N10 000
Heating.....................N15 000
Factory overhead............?
The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively.
Interest on the drawings of partners is treated in the?

A. Profit and loss appropriation account
B. Goodwill account
C. Profit and loss account
D. Trading account

Question 45:

• JAMB 2007

Given:
Stock at start:
Raw materials................N57 000
Work-in-progress.............N42 000
Finished goods...............N71 000
Purchase of raw materials amount to N81 000, direct labour is N38 000 and factory overhead N29 000.
Calculate the prime cost?

A. N176 000
B. N170 000
C. N167 000
D. N156 000