According to the information given in the table below, which of the following is Cost of Goods Sold? Cost of Production 193000 Opening stock of WIP 35000 Opening stock of FG 20000 Closing stock of WIP 18000 Closing stock of FG 210 units Total production units 2100 Select one: a. 229000 b. 239000 c. 219000 d. 209000

According to the information given in the table below, which of the following is Cost of Goods Sold? Cost of Production 193000 Opening stock of WIP 35000 Opening stock of FG 20000 Closing stock of WIP 18000 Closing stock of FG 210 units Total production units 2100 Select one: a. 229000 b. 239000 c. 219000 d. 209000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Opening stock of Raw material is 280000 OMR ,Freight Inwards 3000 OMR, custom duty on purchases 2000 OMR, Purchases of Raw material 930000 OMR, Purchase returns is 1000 OMR and Closing stock of Raw material is 28000 OMR, Calculate Raw material consumed Select one: a. 1,059,000 OMR b. 984,000 OMR c. 1,186,000 OMR d. 750,000 OMR
According to the information given in the table below, which of the following is Raw materials consumed? Opening Stock Raw Materials 27300 Purchases 231600 Freight in 4500 Purchase return raw Material 6500 Wages 123000 Closing Stock Raw Materials 19500 chose one a. 238900 b. 252300 c. 243900 d. 237400
What would be NUBD’s finished inventory cost at December 31, 2021 under the variable costing method? A. P 90,000 B. P 104,000 C. P 105,000 D. P 135,000
Prime cost is 236000 OMR, and cost of production for the year is 298420 OMR Opening stock of work in progress is 12000, and closing stock of Work in progress is 13500 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Cost of goods manufactured 958000 OMR Calculate cost of goods available for sale Select one: a. 978000 OMR b. 998600 OMR c. None of these d. 999000 OMR
QUESTION 4 The following information was extracted from the accounting records of ABC Manufacturers for the year ended September 2020: UNITS Inventory at the beginning of the year Production for the year Sales for the year (at R75 per unit) Nil 20 000 18 250 Direct Materials cost per unit Direct Labour cost per unit Variable Manufacturing overheads per unit Variable selling and administrative cost per unit Fixed manufacturing overhead cost Fixed selling and administrative cost The company utilises the first-in-first-out method of inventory valuation. 21 7 8 182 000 77 000 REQUIRED: 4.1 Prepare the Income Statement using the Marginal Costing method. 4.2 Prepare the Income Statement using the Absorption Costing method.
The following information relates to the only product made by Mario Traders for the year ended 31 July 2022:Opening inventory 0Number of units manufactured 945 000Number of units sold (at R310 per unit) 756 000Direct materials cost per unit R94Direct labour cost per unit R123Variable manufacturing overheads cost per unit R92Variable selling expenses per unit R22Fixed manufacturing overheads cost R18 900 000Fixed selling and administrative expenses R15 750 000 1. Draft the income statement for the year ended 31 July 2022 using the Absorption costing method
According to the information given in the table below, which of the following is Raw materials consumed? Opening Stock Raw Materials 14500 Purchases 104300 Freight in 1800 Purchase return raw Material 1120 Wages Closing Stock Raw Materials 76500 9000 Select one: O a. 121400 O b. 125630 O c. 110480 O d. 99500 nere to search 近

The following inventory information is gathered from the accounting records of Tucker Enterprises: # of Units x Unit Cost = Total Beginning Inventory 4000 x 5 Purchases 6000 x 7 Sales 9000 x 10 Ending Inventory 1000 a. Calculate Ending Inventory # of Units Unit Cost Ending Inventory 1.FIFO 0 $- 2.LIFO 0 $- 3.Weighted Average Cost 0 $- $- $- $- b. Cost of Goods Sold # of Units # of Units Unit cost Unit cost Cost of Goods Sold 1.FIFO $- 2.LIFO $- 3.Weighted Average Cost $- $- 0 $- c.Gross profit using each of the following methods: Sales Cost of Goods Sold Gross Profit 1.FIFO $- $- $- 2.LIFO $- $- $- 3.Weighted Average Cost $- $- $-
According to the information given in the table below, which of the following is Cost of Goods Sold? Cost of Production 255600 Opening stock of WIP 43800 Opening stock of FG 24000 Closing stock of WIP 19400 Closing stock of FG 940 units Total production units 5600 Select one: a. 263000 b. 257000 c. 293000 d. 295800
Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion costs of beginning inventory of P9,800; current period conversion costs of P204,125. The unit conversion cost using weighted average method is: Onone of the choices .0.82 O 0.86 0.70

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Cost of Production	193000
Opening stock of WIP	35000
Opening stock of FG	20000
Closing stock of WIP	18000
Closing stock of FG	210 units
Total production units	2100