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  ₦ Manufacturing wages 42,000 Factory rent 880 Raw materials: Stock 1/1/16 1,000 Purchases 16,000...

Accounts - Principles of Accounts
JAMB 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
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Correct Answer: Option A
Explanation

Cost of raw materials consumed = 1000 + 16000 - 1400
= ₦ = 15600

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Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now