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Accounts - Principles of Accounts 2018 WAEC Past Questions

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31

A credit entry is made in the plant and machinery account for the ......................

  • A. purchase of an additional plant and machinery
  • B. sale of plant and machinery
  • C. maintenance of plant and machinery
  • D. appreciation of plant and machinery
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32

In a manufacturing account, royalties paid

  • A. debited to the trading account
  • B. credited to the profit and loss account
  • C. credited to the manufacturing account
  • D. debited to the manufacturing account
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33

One of the components of factory overhead is............

  • A. raw materials consumed
  • B. manufacturing wages
  • C. carriage inwards
  • D. depreciation of plant and machinery
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34

Use the following information to answer the question that follows

                                                       N
Direct material used-----------------64,000
Direct labour--------------------------30,000
Production overheads--------------22,000
Work-in-progress at beginning-----9,000
Work-in-progress at close---------14,000

Prime cost of production is?

  • A. N64,000
  • B. N94,000
  • C. N111,000
  • D. N116,000
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35

Use the following information to answer the question that follows

                                                       N
Direct material used-----------------64,000
Direct labour--------------------------30,000
Production overheads--------------22,000
Work-in-progress at beginning-----9,000
Work-in-progress at close---------14,000

The total cost of production is

  • A. 94,000
  • B. 106,000
  • C. 111,000
  • D. 116,000
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