Concept:The excess of market value over production cost is the profit earned from manufacturing goods.
Explanation:Market value of goods produced minus cost of production gives the profit made from manufacturing before deducting other expenses.
This profit is called gross profit on manufacturing.
Net profit is calculated only after all other expenses are deducted.
Prime cost includes only direct materials, direct labour, and direct expenses.
Closing stock of work-in-progress refers to unfinished goods at the end of the period.
Therefore, the correct option is the one that names this manufacturing profit.
Answer:B. gross profit on manufacturing