Question on: JAMB Accounting - 2015
Use the information below to answer this question.
\(\begin{array}{c|c}
\hline & \text{Dept A} & \text{Dept B} \\ \hline
\text{Sales} & 180,000 & 150,000 \\ \hline
\text{Cost of sales} & 79,000 & 85,000 \\ \hline
\text{Expense} & 28,000 & 40, 000 \\ \end{array}\)
How much is the gross profit for department A?
\(\begin{array}{c|c}
\hline & \text{Dept A} & \text{Dept B} \\ \hline
\text{Sales} & 180,000 & 150,000 \\ \hline
\text{Cost of sales} & 79,000 & 85,000 \\ \hline
\text{Expense} & 28,000 & 40, 000 \\ \end{array}\)
How much is the gross profit for department A?
A
N101,000
B
N73,000
C
N79,000
D
N152,000
Ask EduPadi AI for a detailed answer
Correct Option: A
gross profit is sales less cost of sales i.e. N180,000 – N79,000 = N101,000
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