Subsection 5.5. Manufacturing accounts for Accounting, O Level - revisedeck

5.5. Manufacturing accounts

A subsection of Accounting, 7707, through 5. Preparation of financial statements

Listing 10 of 33 questions

Which cost is part of the prime cost for a manufacturing business?

7707_s20_qp_12

MCQ

2020

Paper 1, Variant 2

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A manufacturing business provided the following information. $ prime cost 236 000 factory overheads 42 000 opening work in progress 8 000 closing work in progress 6 000 What was the factory cost of production?

7707_s20_qp_12

MCQ

2020

Paper 1, Variant 2

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The following payments were made by John when he purchased a machine. $ purchase of machine 10 000 delivery charge 1 200 insurance installation charge pre-paid maintenance charge How much should have been debited to the machinery account?

7707_s22_qp_11

MCQ

2022

Paper 1, Variant 1

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Which group contains only items included in the prime cost of a manufacturer?

7707_s22_qp_11

MCQ

2022

Paper 1, Variant 1

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A manufacturing company provided the following information. $ cost of production 345 000 finished goods 1 January 2021 42 000 31 December 2021 36 000 purchases of finished goods 15 000 What was the cost of sales?

7707_s22_qp_12

MCQ

2022

Paper 1, Variant 2

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Tim started a manufacturing business on 1 January. He provided the following information about his first year in business. $ closing inventory of finished goods 2 060 closing work in progress 1 840 factory overheads 15 530 prime cost 70 570 What was Tim’s cost of production?

7707_s23_qp_11

MCQ

2023

Paper 1, Variant 1

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A business provided the following information. $ opening inventory of raw material 50 000 closing inventory of raw material 60 000 purchases of raw material 80 000 carriage inwards on raw material 2 000 What was the cost of raw material consumed?

7707_s23_qp_12

MCQ

2023

Paper 1, Variant 2

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What is a direct cost for a manufacturer?

7707_s24_qp_11

MCQ

2024

Paper 1, Variant 1

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A manufacturing company provided the following information. $ 186 000 75 000 45 000 32 000 24 000 18 000 cost of raw materials direct wages machinery depreciation factory supervisor’s salary factory rent machinery repairs What was the prime cost of manufacturing?

7707_s24_qp_12

MCQ

2024

Paper 1, Variant 2

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A manufacturing company provided the following information. $ cost of raw materials 186 000 direct wages 75 000 machinery depreciation 45 000 factory supervisor’s salary 32 000 factory rent 24 000 machinery repairs 18 000 What was the prime cost of manufacturing?

7707_w20_qp_13

MCQ

2020

Paper 1, Variant 3

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Questions Discovered

33