Jamb Accounting Past Questions For Year 2013
Question 26
i. Direct materials
ii.Direct labour
iii.Direct expenses
iv. Factory expenses
Prime cost consist of
- A. i, ii and iii
- B. i, ii and iv
- C. i, iii and iv
- D. ii, iii and iv
Question 27
Which of the following expenses relates to the profit and loss account of a manufacturing firm
- A. Direct materials
- B. Direct labour
- C. Administrative overhead
- D. Work-in-progress
Question 28
Which of the following is accounted for in receipts and payment account
- A. Subscriptions recieved in advance
- B. Subscriptions due not yet recieved
- C. Accrued expenses on annual dances
- D. Depreciation of the club house
Question 29
In manufacturing account, the work-in-progress at the end of the year is
- A. deducted from the cost of goods completed during this year
- B. added to the cost of goods completed
- C. stated in the profit and loss account
- D. stated in the prime cost section
Question 30
Purchase of raw materials - #330,000
Closing stock of raw materials - #80,000
Direct wages - #30,000
Carriages of raw materials - #10,000
Determine the prime cost
- A. #525,000
- B. #515,000
- C. #465,000
- D. #370,000
