Use the question to answer this question Openin... - JAMB Accounting 2019 Question
Use the question to answer this question:
| Opening stock | ₦ |
| Department A B |
100 800 |
| Purchases: A B Wages of workers Salaries |
1500 2000 50 100 |
| Sales A B |
3000 5000 |
Expenses are to be shared in the ratio of sales.
The net profit for departmental A is
A
1880
B
1600
C
880
D
425
correct option: d
Amount of goods sold for the departments = 1000 + 1500 = 2,500
Gross profit = Sales - Cost of goods sold
3000 - 2500 = ₦500
Hence,
Net profit = Gross profit - Expenses
500 - (50 ÷ 2 + 100 ÷ 2)
500 - (25 + 50)
500 - 75
Net profit = ₦425
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