Accounting Questions and Answers

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?

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?

Stock 1/1/2002..........................N40,000
Goods received from head office.................N800,000
Goods returned to head office...................N34,000
Sales...........................................N91,6000
Stock 31/12/2000................................N72,000

From the data above determine the cost of goods credited to the head office trading account.

...................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?

...................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.

Determine the net profit of the business?