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Csec Principles of Accounts

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Csec: May 2013, Question #4

4/4/2018

3 Comments

 
No. 4(a): Calculation of missing figures and preparation of the Statement of Raw Materials Consumed:
Calculation of missing figures:
  1. Raw materials inventory at 1st January, 2012 = 300 metres x $19 = $5,700.
  2. Raw materials inventory at 31st December, 2012 = 340 metres x $24 = $8,160.
  3. Purchases of raw materials = (4,500 metres x $19)+(2,150 metres x $24) = $85,500+$51,600 = $137,100.
  4. Return outwards of raw materials = (100 metres x $24) = $2,400.
Below is the Statement of Raw Materials Consumed:
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CSEC: MAY 2012, QUESTION #6

3/29/2018

1 Comment

 
No. 6(a) (i): Calculation of direct materials consumed:
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No. 6(a) (ii): Calculation of indirect materials used:
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    The author holds a Bsc (Hons) Degree in Applied Accounting from Oxford Brookes University, England and enjoys a successful career as an Accounting Supervisor and a private tutor.

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