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Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline \text{Manufacturing...

Accounts - Principles of Accounts
WAEC 1991
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Manufacturing cost of finished goods} & 75,000 \\ \text{Mark-up is 25%} & 5,000 \end{array}\)
The net profit for the year is
  • A. N93,750
  • B. N56,250
  • C. N18,750
  • D. N17,500
  • E. N13,750
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Correct Answer: Option E
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