JAMB Accounting 2012 Objective — Question 29
Question 29 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2012 Objective paper, with the correct answer and a full explanation.
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Use the information below to answer questions 29 and 30. Total production cost 360,000; Factory overhead cost 56,000; Selling price per unit 120; Production volume 4,000 units. What is the total manufacturing profit?
- A. ₦64,000
- B. ₦120,000Correct
- C. ₦360,000
- D. ₦480,000
Explanation
Total sales = 120×4,000 = 480,000. Total manufacturing profit = Sales − Total production cost = 480,000−360,000 = ₦120,000.
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