Neco Model Questions Vol1 2023 Agricultural Science Question 29
Practice objective / multiple choice question 29 from the 2023 Neco Model Questions Vol1 Agricultural Science examination.
A mixed farm produces 2,000 kg of beans and 1,500 L of milk each month. The selling price is ₦120 per kg of beans and ₦80 per litre of milk. Variable costs are ₦45 per kg of beans and ₦30 per litre of milk. Fixed overheads amount to ₦50,000 per month and the base labour cost is ₦10,000 per month. If the total monthly revenue exceeds ₦250,000, a bonus equal to 5 % of the profit (after fixed and base labour costs) is paid to the workers, increasing the labour cost by that amount. Calculate the net profit for the month and state whether the farm meets a target profit of ₦80,000.
Answer Options
About This Question
This is Neco Model Questions Vol1 2023 Agricultural Science Question 29. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Agricultural Science examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.