Opening stock of raw materials - #75,000 Purchase of raw materials - #330,000 Closing stock...

JAMB 2013

Opening stock of raw materials - #75,000
Purchase of raw materials - #330,000
Closing stock of raw materials - #80,000
Direct wages - #30,000
Carriages of raw materials - #10,000

Calculate the cost of raw materials used

A. #495,000
B. #415,000
C. #325,000
D. #305,000

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Correct Answer: Option C

Explanation

To calculate direct materials, add beginning direct materials to direct materials purchases and subtract ending direct materials.

75,000 + 330,000 - 80,000 = 325,000

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Opening stock of raw materials - #75,000 Purchase of raw materials - #330,000 Closing stock...

Correct Answer: Option C

Explanation

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