WAEC Financial Accounting 1993 Question 45

Purchases: raw materials ₦20,000; finished goods ₦15,200
Stock 1/1/89: raw materials ₦3,000; work-in-progress ₦2,500
Wages: direct ₦22,800; indirect ₦7,200
Factory expenses: electricity ₦12,000; insurance ₦2,000
Stock 31/12/89: raw materials ₦4,000; work-in-progress ₦4,500

The cost of materials used is

1. A.₦23,000
2. B.₦21,000
3. C.₦20,000
4. D.₦19,000
5. E.₦16,000.