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Accounts - Principles of Accounts Past Questions

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3011

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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3012

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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3013

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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3014

The balance on the sales ledger control account at the end of the accounting year represents a total.........

  • A. trade debtors at the end of the year
  • B. cash sales for the year
  • C. credit sales for the year
  • D. amount transferred from the sales journal
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3015

Use the following information to answer the question below

                                01/01/2016   31/12/2016
Trade debtors-------80,000           100,000
Trade creditors-----30,000            40,000
Stock-----------------70,000             90,000

Cheques received from trade debtors in 2016: 350,000
Payment made to trade creditors in 2016: 220,000

 

Credit sales for 2016 is?
 

  • A. 530,000
  • B. 370,000
  • C. 350,000
  • D. 330,000
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