Determine the net profit of the business?

By: |Published on: Dec 6|Categories: Accounting JAMB| 0 comments

Use the information below were to answer questions

……………….Stationary Dept………….Video Dept.
Sales …………..N10,600…………………N15,175
Cost of goods sold..N5,247………………….N6704

The expenses incurred were rent N4500, motor repairs N1200 and telephone N900.
The basis of cost apportionment is 1/2 stationary 1/3 video.

A. N6600
B. N6271
C. N5353
D. N7224

Correct Answer:

Option B – N6271

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