Neco 2020 Financial Accounting Question 43
Practice objective / multiple choice question 43 from the 2020 Neco Financial Accounting examination.
A manufacturing firm produces two products, A and B, in a joint process. The total joint production cost for the period is ₦1,200,000 and the physical output is 8,000 units of A and 12,000 units of B. Separate costs incurred are as follows: for product A - direct materials ₦300,000, direct labour ₦180,000, variable overhead ₦120,000; for product B - direct materials ₦200,000, direct labour ₦150,000, variable overhead ₦130,000. Fixed overhead of ₦250,000 is allocated on the basis of the ratio of direct labour costs of the two products. Compute the unit cost of product B, giving your answer to two decimal places.
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About This Question
This is Neco 2020 Financial Accounting Question 43. It is one of the objective questions from the 2020 Neco Financial Accounting examination.
Difficulty level: Hard .
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