Question on: JAMB Accounting - 2019
The manufacturing account is prepared to ascertain
A
cost of goods sold
B
cost of production
C
Gross profit
D
Finished goods
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Correct Option: B
The manufacturing account is a part of the revenue account of a manufacturing company. The manufacturing account is prepared to determine the cost of the goods manufactured or the amount of profit on the manufacturing processes when the cost of production is taken into consideration
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