Gce Model Questions Vol1 2020 Financial Accounting Question 13
Practice objective / multiple choice question 13 from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
A manufacturing firm produces two products, X and Y. The following data are given for the year: - Opening stock of raw materials: \(£8,000\) - Purchases of raw materials: \(£25,000\) - Closing stock of raw materials: \(£6,000\) - Direct labour cost: \(£15,000\) - Manufacturing overhead is applied at 150 % of direct labour. - Units produced: 1,200 of X and 800 of Y. - Machine‑hour requirement: 2 hours per unit of X and 3 hours per unit of Y. - Total machine hours used: 4,800. - Selling price per unit: \(£40\) for X and \(£55\) for Y. - Fixed selling and distribution expenses: \(£12,000\), allocated to each product in proportion to its sales value. Calculate the profit earned on product Y for the year.
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About This Question
This is Gce Model Questions Vol1 2020 Financial Accounting Question 13. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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