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

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5.5. Manufacturing accounts

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

Listing 10 of 33 questions

Sam’s work in progress was $6500 at the start of the year and $11 200 at the end of the year. When Sam prepared his manufacturing account, he forgot to make the adjustment for work in progress. How did this omission affect the cost of production and the gross profit?

7707_s24_qp_12

MCQ

2024

Paper 1, Variant 2

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A manufacturer’s work in progress at the start of the year was valued at $850. At the end of the year it was valued at $10 200. What was the effect of this increase on the cost of production and the cost of sales?

7707_w20_qp_13

MCQ

2020

Paper 1, Variant 3

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The value of Thato’s work in progress increased during the year. This was recorded in his financial statements. How did this affect the cost of production and the cost of sales?

7707_w21_qp_13

MCQ

2021

Paper 1, Variant 3

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Questions Discovered

33