Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 17 - No. 18)
What is the primary objective of a manufacturing account?
To show the value of the products.
To ascertain the cost of production.
To show the selling prices of the product.
To determine the gross profit of the business.
Explanation
The main purpose of the manufacturing account is to determine the total cost of production during a specific period.
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