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Cost Classification and Manufacturing Accounts · CSEC Principles of Accounts

52 past-paper questions on Cost Classification and Manufacturing Accounts, part of Section 10: Manufacturing and Inventory Control, from every CSEC Principles of Accounts paper on Quelpr.

Practise Cost Classification and Manufacturing Accounts
  1. 3(a)(i)3 marks· CSEC Principles of Accounts · 2022 · Paper 2Calculate the total direct costs of producing one AF2 automobile part.
  2. 3(a)(ii)3 marks· CSEC Principles of Accounts · 2022 · Paper 2Calculate the total direct costs of producing 800 AF2 automobile parts.
  3. 3(b)(i)4 marks· CSEC Principles of Accounts · 2022 · Paper 2Prepare an extract showing calculations to arrive at the cost of raw materials used for the year ended 30 April 2022.
  4. 3(b)(ii)8 marks· CSEC Principles of Accounts · 2022 · Paper 2Prepare the company's manufacturing account to show the total cost of production of manufactured goods for the year ended 30 April 2022.
  5. 3(c)2 marks· CSEC Principles of Accounts · 2022 · Paper 2Calculate the unit cost of producing one AF2 automobile part in the year ended 30 April 2022 using the total cost of production figure from (b)(ii).
  6. 5(a)2 marks· CSEC Principles of Accounts · 2022 · Paper 2Calculate the total indirect costs for EACH cost centre (Assembly and Finishing).
  7. 5(b)(i)1 mark· CSEC Principles of Accounts · 2022 · Paper 2State the formula used to calculate the overhead absorption rate (OAR).
  8. 5(b)(ii)6 marks· CSEC Principles of Accounts · 2022 · Paper 2Calculate the overhead absorption rate (OAR) for EACH cost centre.
  9. 5(c)7 marks· CSEC Principles of Accounts · 2022 · Paper 2Calculate the total cost of producing ONE Scalextric toy car, showing direct materials calculations, production hours calculations applying the OARs, and overall total cost.
  10. 5(d)(i)1 mark· CSEC Principles of Accounts · 2022 · Paper 2Define the term 'mark-up pricing'.
  11. 5(d)(ii)1 mark· CSEC Principles of Accounts · 2022 · Paper 2Calculate the total dollar value of the mark-up on ONE Scalextric toy car.
  12. 5(d)(iii)2 marks· CSEC Principles of Accounts · 2022 · Paper 2Calculate the selling price of ONE Scalextric toy car.
  13. 4(a)14 marks· CSEC Principles of Accounts · January 2009 · Paper 2Prepare Lipset Enterprise's Manufacturing Account for the year ended June 30, 2008, showing clearly: Cost of material available for use, Cost of material consumed, Prime cost, Factory overheads, and Cost of production.
  14. 4(b)2 marks· CSEC Principles of Accounts · January 2009 · Paper 2Calculate the production cost per bench.
  15. 5(a)14 marks· CSEC Principles of Accounts · January 2011 · Paper 2Prepare the Manufacturing Account for E. Sandiford's business for the year ended December 31, 2010 clearly identifying totals for: Cost of raw materials consumed, Prime cost, Factory overheads, and Cost of goods…
  16. 5(b)3 marks· CSEC Principles of Accounts · January 2011 · Paper 2Prepare a list of costs incurred by E. Sandiford's office to arrive at total office costs.
  17. 5(c)3 marks· CSEC Principles of Accounts · January 2011 · Paper 2E. Sandiford made 480 computer tables for the year ended December 31, 2010. Calculate the unit cost of manufacturing one computer table. (Show all working clearly.)
  18. 6(a)(iii)3 marks· CSEC Principles of Accounts · January 2011 · Paper 2Given that J. Collins normally operates at a gross profit margin of 20%, find the cost of sales for the period January 1 to March 31, 2010. (Show working.)
  19. 6(b)1 mark· CSEC Principles of Accounts · January 2011 · Paper 2State the name given to the relationship between gross profit and cost of sales.
  20. 5(a)10 marks· CSEC Principles of Accounts · January 2013 · Paper 2Prepare the Manufacturing Account of Glen Co. for the year ended 31 December 2012 showing clearly the cost of raw materials consumed, prime cost, factory overheads, and cost of production.
  21. 5(a)7 marks· CSEC Principles of Accounts · January 2014 · Paper 2Classify EACH cost item as either Manufacturing Account or Income Statement. For EACH item classified as Manufacturing Account, indicate whether it is a Direct or Indirect cost.
  22. 5(b)(i)5 marks· CSEC Principles of Accounts · January 2014 · Paper 2Calculate the Cost of Raw Materials Consumed for Blings & Tings Manufacturing for the year ended 30 November 2013.
  23. 5(b)(ii)3 marks· CSEC Principles of Accounts · January 2014 · Paper 2Calculate the Prime Cost for Blings & Tings Manufacturing for the year ended 30 November 2013.
  24. 5(b)(iii)5 marks· CSEC Principles of Accounts · January 2014 · Paper 2Calculate the Cost of Production for Blings & Tings Manufacturing for the year ended 30 November 2013.
  25. 5(a)(i)7 marks· CSEC Principles of Accounts · January 2017 · Paper 2Prepare a statement using the worksheet provided to show the cost of raw materials consumed for EACH raw material (Leather and Fibre).
  26. 5(a)(ii)3 marks· CSEC Principles of Accounts · January 2017 · Paper 2Prepare a statement to show the total direct expenses incurred for bags.
  27. 5(b)10 marks· CSEC Principles of Accounts · January 2017 · Paper 2Beginning with the total cost of raw materials consumed, prepare the Manufacturing Account for Authentic Sandals for the period ending 31 May 2016, showing separate amounts for total direct labour cost, total indirect…
  28. 5(a)13 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2Prepare a Manufacturing Account for the year ended December 31, 2009, showing clearly the cost of raw materials consumed, prime cost, and factory overheads.
  29. 5(b)7 marks· CSEC Principles of Accounts · May/June 2010 · Paper 2Prepare the Income Statement for the year ended December 31, 2009.
  30. 5(a)10 marks· CSEC Principles of Accounts · May/June 2011 · Paper 2Prepare the Manufacturing Account for Martha's Cakes & Confectionery, showing clearly: (i) Prime cost, (ii) Factory overheads, (iii) Total cost of production.
  31. 5(b)8 marks· CSEC Principles of Accounts · May/June 2011 · Paper 2Prepare the Income Statement for Martha's Cakes & Confectionery for the year ended December 31, 2010, classifying costs appropriately.
  32. 5(c)2 marks· CSEC Principles of Accounts · May/June 2011 · Paper 2Martha reports an average unit cost of $10 per baked item. Compute the number of baked items produced for the year ended December 31, 2010, showing all working clearly.
  33. 6(a)(i)4 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2Calculate the cost of direct materials consumed.
  34. 6(a)(ii)3 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2Calculate the cost of indirect materials used.
  35. 6(b)11 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2Prepare the Manufacturing Account for Simon Long for the year ended 31 December 2011, showing clearly the cost of direct materials consumed, prime costs, factory overheads, and cost of production.
  36. 6(c)2 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2Calculate the cost of goods sold.
  37. 4(a)8 marks· CSEC Principles of Accounts · May/June 2013 · Paper 2After calculating missing figures, prepare an account or statement for Fashion Forward to show the cost of raw materials consumed.
  38. 4(b)4 marks· CSEC Principles of Accounts · May/June 2013 · Paper 2After calculating missing figures, prepare a cost of direct labour statement for Fashion Forward for the year ended 31 December 2012.
  39. 4(c)8 marks· CSEC Principles of Accounts · May/June 2013 · Paper 2Starting with cost of raw materials consumed and direct labour cost calculated in (a) and (b), prepare the Manufacturing Account for the year ended 31 December 2012. Show all working clearly.
  40. 5(a)16 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Prepare a Manufacturing Account for JB Manufacturing Company for the year ended 31 December 2013, showing clearly: Prime cost, Total factory overheads, and Cost of production.
  41. 5(b)(i)5 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2Prepare a manufacturing account for Sedeno Knitted Goods for the year ended 30 November 2014 showing clearly the total cost of production.
  42. 5(b)(ii)4 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2Prepare a trading account for Sedeno Knitted Goods for the year ended 30 November 2014.
  43. 4(a)(i)4 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2Prepare the Manufacturing Account for the year ended 31 December 2015, showing clearly the cost of raw materials used.
  44. 4(a)(ii)3 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2Show clearly the prime cost in the Manufacturing Account.
  45. 4(a)(iii)4 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2Show clearly the total production cost in the Manufacturing Account.
  46. 4(b)(i)4 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2Prepare the Income Statement for the year ended 31 December 2015, showing clearly the Gross Income.
  47. 4(b)(ii)3 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2Show clearly the Net Income in the Income Statement.
  48. 4(c)2 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2Calculate the unit cost of production for the year given that 12 900 sets were manufactured.
  49. 3(a)3 marks· CSEC Principles of Accounts · May/June 2017 · Paper 2Calculate the selling price for each fruit punch.
  50. 3(b)4 marks· CSEC Principles of Accounts · May/June 2017 · Paper 2Calculate the gross profit earned on each fruit punch.
  51. 3(c)10 marks· CSEC Principles of Accounts · May/June 2017 · Paper 2Draw up the Income Statement for Kwame for the year ended 30 June 2016.
  52. 3(d)3 marks· CSEC Principles of Accounts · May/June 2017 · Paper 2Calculate the percentage of each sales dollar paid out in labour costs.

Related topics in Section 10: Manufacturing and Inventory Control