passwella.
Menu

JAMB Principles of Accounts 2006 Question 31

Question 31

Manufacturing Accounts

Given:
Stock of raw materials 1/1/04 ₦11 150
Purchases of raw materials ₦112 550
Raw materials returned ₦31 150
Carriage on raw materials ₦1 150
Stock of raw materials 31/12/04 ₦27 150
Calculate the cost of raw materials consumed.

  1. A.₦156 000
  2. B.₦38 300
  3. C.₦183 150
  4. D.₦66 550
Show the answer and explanation

Answer: D (₦66 550)

Explanation

11 150 + 112 550 − 31 150 + 1 150 − 27 150 = ₦66 550.