JAMB Accounting 2023 Objective — Question 12

Question 12 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

The cost of goods produced is A.

A. #80,000
B. #86,500
C. #83,000Correct
D. #76,000

Explanation

Cost of goods produced: Prime cost + Overhead cost = 70,000+10,000=80,000. Adjust in work-in-progress (#6,000-#3,000)=3,000. Cost of goods produced=83,000.

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