JAMB Accounting Past Questions & Answers - Page 144

716.

Work-in-progress is the?

A.

Value of party finished goods

B.

Value of finished goods sold

C.

Sales less cost of goods sold

D.

Value of goods produced

Correct answer is A

No explanation has been provided for this answer.

717.

The product cost that does not form part of the product but is incidental to product and facilitates the production activities is the?

A.

Prime cost

B.

Indirect cost

C.

Total cost

D.

Direct cost

Correct answer is B

No explanation has been provided for this answer.

718.

The cost that are directly traceable to the the goods being produced is?

A.

Party manufactured goods

B.

Overhead cost

C.

Total factory expenses

D.

Prime cost

Correct answer is D

No explanation has been provided for this answer.

719.

Calculate the net profit?

A.

N1,620

B.

N1,920

C.

N1,420

D.

N2,120

Correct answer is C

No explanation has been provided for this answer.