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WAEC Financial Accounting 2021 Question 33

Question 33

Manufacturing Accounts

Manufacturing account is prepared to determine the

  1. A.cost of goods sold.
  2. B.cost of goods produced.
  3. C.profit on goods produced.
  4. D.value of work-in-progress.
Show the answer and explanation

Answer: B (cost of goods produced.)

Explanation

It works out the cost of production of the goods made.