Question on: JAMB Accounting - 2023
|
₦ | |
|
Manufacturing wages | 42,000 |
|
Factory rent | 880 |
|
Raw materials: Stock 1/1/16 | 1,000 |
|
Purchases | 16,000 |
|
Stock 31/12/16 | 1,400 |
|
Depreciation of Plants and Machinery | 800 |
|
Royalties | 300 |
|
Indirect wages | 18,000 |
|
General indirect expenses | 620 |
Calculate the cost of raw materials consumed
A
₦15,600
B
₦17,000
C
₦42,000
D
₦20,300
Ask EduPadi AI for a detailed answer
Correct Option: A
Cost of raw materials consumed = 1000 + 16000 - 1400
= ₦15600
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