JAMB Accounting 2022 Objective — Question 31

Question 31 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2022 Objective paper, with the correct answer and a full explanation.

31. Using the same data, what is the cost of goods produced?

A. (A) #245,000Correct
B. (B) #191,000
C. (C) #54,000
D. (D) #75,000

Explanation

Cost of goods produced = Prime cost + Factory overhead (indirect cost) = #191,000+#54,000 = #245,000.

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