Question on: SS2 Accounting - Computation of: Cost of Raw Materials Available For Use, Cost of Raw Materials Consumed & Prime Cost of Production

What is the formula for calculating the cost of raw materials consumed or used?

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A

Cost of Raw Materials Available for Use - Beginning Raw Materials Inventory

B

Cost of Raw Materials Available for Use - Ending Raw Materials Inventory

C

Beginning Raw Materials Inventory - Cost of Raw Materials Available for Use

D

Ending Raw Materials Inventory - Cost of Raw Materials Available for Use

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Correct Option: B

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