ABC Company has the following information for the period ended 31 December 2020. Direct material purchased OMR 360000 Direct labor OMR 200000 Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses Inventories, 1 January 2020: OMR 29000 OMR 18500 15 % of the direct labor cost OMR 21000 OMR 7000 OMR 22300 OMR 8500 Direct Material OMR 41700 Work-in-process Finished goods Purchase returns of direct materials Depreciation-administrative Inventories, 31 December 2020: OMR 50000 OMR 75000 OMR 7400 OMR 13800 Material OMR 19000 Work-in process Finished goods Total Production Units OMR 32000 3000 Units 35000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.
ABC Company has the following information for the period ended 31 December 2020.
Direct material purchased
Direct labor
Factory maintenance
Power and heat-factory
Direct Expenses
Indirect factory labor
Freight In
Depreciation - Factory
Advertisement expenses
Inventories, 1 January 2020:
OMR 360000
OMR 200000
OMR 29000
OMR 18500
15 % of the direct labor cost
OMR 21000
OMR 7000
OMR 22300
OMR 8500
Direct Material
OMR 41700
Work-in-process
Finished goods
Purchase returns of direct materials
Depreciation-administrative
Inventories, 31 December 2020:
OMR 50000
OMR 75000
OMR 7400
OMR 13800
Material
OMR 19000
Work-in process
Finished goods
Total Production Units
OMR 32000
3000 Units
35000 units
Finished goods are valued at the current unit manufacturing cost.
You are required to prepare:
I. Manufacturing Statement
II. Calculate unit production cost.
Transcribed Image Text:ABC Company has the following information for the period ended 31 December 2020. Direct material purchased Direct labor Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses Inventories, 1 January 2020: OMR 360000 OMR 200000 OMR 29000 OMR 18500 15 % of the direct labor cost OMR 21000 OMR 7000 OMR 22300 OMR 8500 Direct Material OMR 41700 Work-in-process Finished goods Purchase returns of direct materials Depreciation-administrative Inventories, 31 December 2020: OMR 50000 OMR 75000 OMR 7400 OMR 13800 Material OMR 19000 Work-in process Finished goods Total Production Units OMR 32000 3000 Units 35000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.
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