Waec Model Questions Vol1 2020 Financial Accounting Question 12
Practice objective / multiple choice question 12 from the 2020 Waec Model Questions Vol1 Financial Accounting examination.
A manufacturing concern prepares the following data for the year: - Opening raw‑material stock: ₦50,000 - Purchases of raw material: ₦120,000 - Closing raw‑material stock: ₦30,000 - Opening work‑in‑process (WIP): ₦20,000 - Closing WIP: ₦15,000 - Opening finished‑goods stock: ₦40,000 - Closing finished‑goods stock: ₦35,000 - Overhead is 60 % of direct labour. - Conversion cost (direct labour + overhead) equals 40 % of the prime cost. - The firm aims for a profit equal to 25 % of the cost of goods sold. What is the sales revenue for the year? (Round to the nearest naira.)
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About This Question
This is Waec Model Questions Vol1 2020 Financial Accounting Question 12. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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