JAMB - Accounts Principles Of Accounts (2024 - No. 31)
| # | |
|
Stock 1/1/09: Raw materials |
20000 |
|
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 value of raw materials consumed is
#18,500
#19,500
#26,000
#37,500
Explanation
Raw materials consumed = Opening stock of raw materials + Raw materials purchased - Closing stock of raw materials
= 20,000+ 18,000 - 500
= 38,00-500
= 37,500
= 20,000+ 18,000 - 500
= 38,00-500
= 37,500
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