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      Question

      What would be the amount of profits?

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      A 55000 Correct Answer Incorrect Answer
      B 48000 Correct Answer Incorrect Answer
      C 50000 Correct Answer Incorrect Answer
      D 43000 Correct Answer Incorrect Answer
      E 47000 Correct Answer Incorrect Answer

      Solution

      Factory Costs total is Prime Cost + Factory Overheads + Opening Stock of WIP – Closing Stock of WIP And Cost of Production would be Factory Cost + Office & Administration Overheads Cost of goods available for sale = Cost of Production + Selling & distribution overheads + Opening Stock of finished goods Cost of Goods Sold = Cost of goods available for sale – Closing Stock of Finished goods Profit = Sales – Cost of Goods Sold

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