ZIMSEC O Level Principles of Accounting Manufacturing Accounts questions

Question 1

Which of the following is a factory overhead cost?

Accepted Answer

depreciation of plant

Question 2

S. Samanyika Toy Products had opening raw material stock of 11 400, purchases of raw materials of 54 000, and closing raw material stock of $1 400 for the year ended 31 December 2009. What was the cost of raw materials consumed?

Accepted Answer

$64 000

Question 3

S. Samanyika Toy Products' Manufacturing Account for the year ended 31 December 2009 arrived at a prime cost of 93 600, total factory overheads of 99 800 (after adding indirect expenses), and a figure of 103 800 after adding opening work in progress. What was the total cost of production, after also deducting the closing work in progress of 11 500?

Accepted Answer

$92 300

Question 4

Mwanza Manufacturing Company had opening raw material stock of 13 000, purchases of raw materials of 67 000, freight charged on raw materials of 3 000, and closing raw material stock of 25 000 for the year ended 31 December 2010. What was the cost of raw materials consumed?

Accepted Answer

$58 000

Question 5

Mwanza Manufacturing Company's Manufacturing Account for the year ended 31 December 2010 showed a prime cost of 78 000 and total factory overheads/production cost of goods manufactured of 97 000. In the Trading Account, sales were 150 000, and cost of sales (opening finished goods stock 14 000 plus production cost 97 000 less closing finished goods stock 24 000) was $87 000. What was the gross profit?

Accepted Answer

$63 000

Question 6

D. Dlodlo, a retailer, sold goods with a cost price of 8 500 on credit to A. Mashamba for 9 500. What is the effect of this transaction on working capital: increase, decrease, or no effect?

Accepted Answer

increase

Manufacturing Accounts Questions and Answers

Test yourself on this topic

Which of the following is a factory overhead cost?

S. Samanyika Toy Products had opening raw material stock of $11 400, purchases of raw materials of$ 54 000, and closing raw material stock of $1 400 for the year ended 31 December 2009. What was the cost of raw materials consumed?

Mwanza Manufacturing Company had opening raw material stock of $13 000, purchases of raw materials of$ 67 000, freight charged on raw materials of $3 000, and closing raw material stock of$ 25 000 for the year ended 31 December 2010. What was the cost of raw materials consumed?

D. Dlodlo, a retailer, sold goods with a cost price of $8 500 on credit to A. Mashamba for$ 9 500. What is the effect of this transaction on working capital: increase, decrease, or no effect?

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Manufacturing Accounts Questions and Answers

Test yourself on this topic

Which of the following is a factory overhead cost?

S. Samanyika Toy Products had opening raw material stock of 11400,purchasesofrawmaterialsof11 400, purchases of raw materials of 11400,purchasesofrawmaterialsof54 000, and closing raw material stock of $1 400 for the year ended 31 December 2009. What was the cost of raw materials consumed?

D. Dlodlo, a retailer, sold goods with a cost price of 8500oncredittoA.Mashambafor8 500 on credit to A. Mashamba for 8500oncredittoA.Mashambafor9 500. What is the effect of this transaction on working capital: increase, decrease, or no effect?

Questions on this topic

More topics in this subject

Practise this topic in the app

S. Samanyika Toy Products had opening raw material stock of $11 400, purchases of raw materials of$ 54 000, and closing raw material stock of $1 400 for the year ended 31 December 2009. What was the cost of raw materials consumed?

D. Dlodlo, a retailer, sold goods with a cost price of $8 500 on credit to A. Mashamba for$ 9 500. What is the effect of this transaction on working capital: increase, decrease, or no effect?