Post Utme Greenfield University 2019 Accounting Question 31

Practice objective / multiple choice question 31 from the 2019 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2019 Accounting Objective / Multiple Choice
Question 31 POST_UTME_GREENFIELD_UNIVERSITY • 2019 • ACCOUNTING • objective

A company produces two products, X and Y. The production process involves two departments: Manufacturing and Assembly. The Manufacturing department produces 500 units of X and 300 units of Y. The Assembly department assembles 400 units of X and 200 units of Y. The total cost of production for X is ₦120,000 and for Y is ₦90,000. The selling price of X is ₦150 and of Y is ₦120. Calculate the profit or loss for each product.

Answer Options

Correct Answer A. ₦30,000 profit on X and ₦20,000 loss on Y
B. ₦20,000 profit on X and ₦30,000 profit on Y
C. ₦30,000 loss on X and ₦20,000 profit on Y
D. ₦20,000 loss on X and ₦30,000 loss on Y
Correct Answer
A
Correct Option:
₦30,000 profit on X and ₦20,000 loss on Y

About This Question

This is Post Utme Greenfield University 2019 Accounting Question 31. It is one of the objective questions from the 2019 Post Utme Greenfield University Accounting examination.

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