Use the following information to answer questions below Le Raw materials: Stock (01/01/2017) 822000 Stock (31/12/2017) 560000 Purchases 125000 Returns of ra...
Question 1 Report
Use the following information to answer questions below
| Le | |
| Raw materials: | |
| Stock (01/01/2017) | 822000 |
| Stock (31/12/2017) | 560000 |
| Purchases | 125000 |
| Returns of raw materials | 15000 |
The cost of raw materials available for production is
Answer Details
To determine the cost of raw materials available for production, we need to calculate the total amount of raw materials that were available during the given period.
The calculation involves adding the opening stock of raw materials to the purchases made and then subtracting any returns of raw materials.
Given the information provided:
Opening Stock (01/01/2017): Le 822,000
Purchases: Le 125,000
Returns of Raw Materials: Le 15,000
To calculate the cost of raw materials available for production, we can perform the following calculation:
Cost of Raw Materials Available = Opening Stock + Purchases - Returns
Cost of Raw Materials Available = Le 822,000 + Le 125,000 - Le 15,000
Cost of Raw Materials Available = Le 932,000
Therefore, the cost of raw materials available for production is Le 932,000.
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