Use the following Information to answer this question.
Cost of raw materials consumed is
| Stock of finished goods: Jan 1stDec 31stStock of Raw materials: Jan 1stDec 31stPurchase of Raw MaterialsManufacturing WagesDepreciation: Factory equipmentDirect expensesFactory FuelCarriage inwards on Raw Materials | ₦50,64071,38032,16029,640145,00052,00016,50012,5007,0007,000 |
Cost of raw materials consumed is
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Correct Answer: Option C
Explanation:
|  | ₦ | ₦ |
| Opening stock of raw materialsPurchase of Raw materialCarriage Inwards | 145,6007000 | 32,160 |
| less closing stock | Â | 184,76029,640 |
| Cost of Raw materials consumed | Â | 155,120 |