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