Waec Model Questions Vol1 2019 Financial Accounting Question 32
Practice objective / multiple choice question 32 from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
XYZ Ltd manufactures a single product. The following data relate to the year: Opening work‑in‑process 45,000; Closing work‑in‑process 30,000; Opening finished goods 60,000; Closing finished goods 55,000; Opening raw‑material stock 20,000; Purchases of raw materials 150,000; Closing raw‑material stock 25,000; Direct labour 80,000; Manufacturing overhead is applied at 150 % of direct labour; An abnormal loss of raw materials valued at 5,000 was written off. Sales revenue for the year was 500,000 and selling & distribution expenses were 40,000. Compute the gross profit for the year.
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About This Question
This is Waec Model Questions Vol1 2019 Financial Accounting Question 32. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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