# Stock 1/1/09: Raw materials 20000 Work-in-progress 5000 Stock 31/12/09: Raw materials 500 Work...

JAMB 2024

	#
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

A. #18,500
B. #19,500
C. #26,000
D. #37,500

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Correct Answer: Option D

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

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