Question on: JAMB Accounting - 2024
| # | |
Stock 1/1/09: Raw materials | 2000 |
Work-in-progress | 5000 |
Stock 31/12/09: Raw materials | 500 |
Work-in-progress | 4000 |
Raw materials purchased | 18000 |
Direct labour | 7500 |
Direct expenses | 3000 |
Factory expenses | 10000 |
The raw materials available for production is ___
A
18,500
B
#20,000
C
#19,500
D
#38,000
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Correct Option: D
The raw materials available for production is calculated as:
Opening Raw Materials: 2000
Raw Materials Purchased: 18000
Total = 2000 + 18000 = 20000
The closing stock is not included in this calculation.
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