JAMB - Accounts Principles Of Accounts (2019 - No. 21)
Use the following Information to answer this question.
Stock of finished goods: Jan 1st Dec 31st Stock of Raw materials: Jan 1st Dec 31st Purchase of Raw Materials Manufacturing Wages Depreciation: Factory equipment Direct expenses Factory Fuel Carriage inwards on Raw Materials |
₦ 50,640 71,380 32,160 29,640 145,000 52,000 16,500 12,500 7,000 7,000 |
Cost of raw materials consumed is
₦53,000
₦150,000
₦152,120
₦148,120
Explanation
| ₦ | ₦ | |
| Opening stock of raw materials Purchase of Raw material Carriage Inwards |
145,600 7000 |
32,160 |
less closing stock |
184,760 29,640 |
|
| Cost of Raw materials consumed | 155,120 |
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