A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2014 · Q141 Mark
The manufacturing account and income statement of a trader show the following: $ purchases of raw materials 70000 direct costs and overheads 54000 increase in inventory of raw materials 8000 decrease in work in progress 3000 increase in inventory of finished goods 14000 What are the values of cost of production and cost of sales?
Acost of production $119000, cost of sales $105 000
Bcost of production $124000, cost of sales $105000
Ccost of production $124000, cost of sales $143000
Dcost of production $129 000, cost of sales $143000
✓ Correct answer
A: cost of production $119000, cost of sales $105 000
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill Preparation of financial statements and see which topics are most likely to come up next.
Sign up free →