Use the information to answer the given question. \(\begin{array}{c|c} & D\\ \text{Opening stock: raw materials} & 10,000\\ \text{work-in-progress} & 16,000...

Answer Details

To calculate the cost of raw materials consumed, we need to use the formula: Cost of raw materials consumed = Opening stock of raw materials + Purchases of raw materials - Closing stock of raw materials Plugging in the given values, we get: Cost of raw materials consumed = 10,000 + 95,000 - 7,500 = 97,500 Therefore, the cost of raw materials consumed is D98,000 (closest option). Explanation: The opening stock of raw materials and purchases of raw materials are added together to get the total raw materials available for use. Then, the closing stock of raw materials is subtracted from the total raw materials available to determine the raw materials consumed during the period.