Waec Accounts - Principles of Accounts 2006 Past Questions and Answers

Question 31:

• WAEC 2006

Use the information to answer the given question.
\(\begin{array}{c|c} & D\\ \text{Opening stock: raw materials} & 10,000\\ \text{work-in-progress} & 16,000\\ \text{Purchases of raw materials} & 95,000\\ \text{Direct labour wages paid} & 13,500\\ \text{Royalties paid} & 6,200\\ \text{Accrued wages} & 2,800\\ \text{Closing stock: raw materials} & 7,500\\ \text{work in progress} & 8,500\\ \text{Manufacturing overhead} & 10,000\end{array}\)
Cost of raw materials consumed is

A. D113,000
B. D105,500
C. D98,000
D. D95,500

Question 32:

• WAEC 2006

Use the information to answer the given question.
\(\begin{array}{c|c} & D\\ \hline \text{Opening stock: raw materials} & 10,000\\ \text{work-in-progress} & 16,000\\ \text{Purchases of raw materials} & 95,000\\ \text{Direct labour wages paid} & 13,500\\ \text{Royalties paid} & 6,200\\ \text{Accrued wages} & 2,800\\ \text{Closing stock: raw materials} & 7,500\\ \text{work in progress} & 8,500\\ \text{Manufacturing overhead} & 10,000\end{array}\)
Prime cost is

A. D120,500
B. 117,700
C. D114,900
D. D114,300

Question 33:

• WAEC 2006

Use the information to answer the given question.
\(\begin{array}{c|c} & D\\ \hline \text{Opening stock: raw materials} & 10,000\\ \text{work-in-progress} & 16,000\\ \text{Purchases of raw materials} & 95,000\\ \text{Direct labour wages paid} & 13,500\\ \text{Royalties paid} & 6,200\\ \text{Accrued wages} & 2,800\\ \text{Closing stock: raw materials} & 7,500\\ \text{work in progress} & 8,500\\ \text{Manufacturing overhead} & 10,000\end{array}\)
Cost of goods manufactured is

A. D138,000
B. D131,800
C. D130,500
D. D123,500

Question 34:

• WAEC 2006

A set of instruments fed into a computer for accomplishing a given task is a/an

A. Input
B. Programme
C. Output
D. Data

Question 35:

• WAEC 2006

Control accounts are also known as

A. Contra accounts
B. Total accounts
C. Ledger accounts
D. Integral accounts